Looking to balance out your exposure to EIF.TO? The ETFs below have the lowest correlation with EIF.TO — they tend to move on their own, which can help reduce risk when EIF.TO drops. The stock ideas table highlights individual companies that behave independently from EIF.TO.
Best Diversifiers for EIF.TO
3 ETFs have low correlation with EIF.TO (below 0.3), 2 of which are negatively correlated. The least correlated is iShares S&P/TSX Capped Energy Index ETF (XEG.TO) (Energy Equities) with a 1Y correlation of -0.26, down from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares S&P/TSX Capped Energy Index ETF | -0.26 | 0.05 | 0.16 | 86 | Energy Equities | EIF.TO vs XEG.TO | |
| Global X High Interest Savings ETF | -0.03 | 0.00 | — | 100 | Money Market | EIF.TO vs CASH.TO | |
| iShares Core MSCI Canadian Quality Dividend Index ... | 0.14 | 0.34 | 0.41 | 98 | Dividend, Large Cap Value Equities | EIF.TO vs XDIV.TO | |
| Hamilton Enhanced Canadian Covered Call ETF | 0.39 | 0.44 | — | 92 | Derivative Income | EIF.TO vs HDIV.TO | |
| iShares Core Equity ETF Portfolio | 0.44 | 0.47 | 0.51 | 75 | Global Equities | EIF.TO vs XEQT.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from EIF.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to EIF.TO and solid risk/return profiles. The least correlated is Canadian Natural Resources Limited (CNQ.TO) (Energy) with a 1Y correlation of -0.24, down from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Canadian Natural Resources Limited | -0.24 | 0.05 | 0.14 | 86 | Energy | |
| Whitecap Resources Inc. | -0.23 | 0.05 | 0.14 | 96 | Energy | |
| Pembina Pipeline Corporation | -0.19 | 0.11 | 0.20 | 83 | Energy | |
| AltaGas Ltd. | -0.13 | 0.07 | 0.16 | 92 | Utilities | |
| Enbridge Inc. | -0.08 | 0.12 | 0.20 | 81 | Energy |
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