Looking to balance out your exposure to ENB.TO? The ETFs below have the lowest correlation with ENB.TO — they tend to move on their own, which can help reduce risk when ENB.TO drops. The stock ideas table highlights individual companies that behave independently from ENB.TO.
Best Diversifiers for ENB.TO
63 ETFs have low correlation with ENB.TO (below 0.3), 44 of which are negatively correlated. The least correlated is Hamilton Technology YIELD MAXIMIZER ETF (QMAX.TO) (Technology Equities) with a 1Y correlation of -0.26, down from -0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Hamilton Technology YIELD MAXIMIZER ETF | -0.26 | -0.09 | -0.09 | 52 | Technology Equities, Derivative Income | ENB.TO vs QMAX.TO | |
| TD Global Technology Leaders Index ETF | -0.26 | -0.06 | 0.06 | 58 | Technology Equities | ENB.TO vs TEC.TO | |
| BetaPro NASDAQ-100 2x Daily Bull ETF | -0.24 | -0.00 | 0.14 | 66 | Nasdaq-100, Leveraged Equities | ENB.TO vs QQU.TO | |
| iShares NASDAQ 100 Index ETF (CAD-Hedged) | -0.24 | -0.00 | 0.13 | 66 | Nasdaq-100 | ENB.TO vs XQQ.TO | |
| Invesco NASDAQ 100 Index ETF CAD Hedged | -0.23 | -0.05 | 0.06 | 76 | Nasdaq-100 | ENB.TO vs QQC.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ENB.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ENB.TO and solid risk/return profiles. The least correlated is Aritzia Inc. (ATZ.TO) (Consumer Cyclical) with a 1Y correlation of -0.19, down from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Aritzia Inc. | -0.19 | -0.02 | 0.09 | 94 | Consumer Cyclical | |
| Equitable Group Inc. | -0.12 | 0.10 | 0.18 | 68 | Financial Services | |
| Brookfield Renewable Partners L.P | -0.11 | 0.14 | 0.14 | 85 | Utilities | |
| Celestica Inc. | -0.11 | -0.02 | 0.08 | 94 | Technology | |
| Energy Fuels Inc. | -0.10 | 0.05 | 0.17 | 87 | Energy |
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