Looking to balance out your exposure to ENS.TO? The ETFs below have the lowest correlation with ENS.TO — they tend to move on their own, which can help reduce risk when ENS.TO drops. The stock ideas table highlights individual companies that behave independently from ENS.TO.
Best Diversifiers for ENS.TO
1 ETFs have low correlation with ENS.TO (below 0.3), 1 of which are negatively correlated. The least correlated is Hamilton Canadian Financials YIELD MAXIMIZER ETF (HMAX.TO) (Derivative Income) with a 1Y correlation of -0.01, down from 0.33 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Hamilton Canadian Financials YIELD MAXIMIZER ETF | -0.01 | 0.33 | — | 91 | Derivative Income | ENS.TO vs HMAX.TO | |
| Global X Enhanced Canadian Oil and Gas Equity Cove... | 0.46 | — | — | 85 | Oil & Gas, Derivative Income | ENS.TO vs ENCL.TO | |
| Global X Canadian Oil and Gas Equity Covered Call ... | 0.46 | 0.42 | 0.49 | 85 | Derivative Income, Energy Equities | ENS.TO vs ENCC.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ENS.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ENS.TO and solid risk/return profiles. The least correlated is Aecon Group Inc. (ARE.TO) (Industrials) with a 1Y correlation of -0.04, down from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Aecon Group Inc. | -0.04 | 0.13 | 0.22 | 95 | Industrials | |
| Lundin Gold Inc. | -0.02 | 0.07 | 0.10 | 58 | Basic Materials | |
| Dividend 15 Split Corp. | 0.01 | 0.32 | 0.36 | 96 | Financial Services | |
| Pembina Pipeline Corporation | 0.58 | 0.51 | 0.52 | 83 | Energy | |
| Enbridge Inc. | 0.83 | 0.73 | 0.72 | 81 | Energy |
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