Looking to balance out your exposure to GIB-A.TO? The ETFs below have the lowest correlation with GIB-A.TO — they tend to move on their own, which can help reduce risk when GIB-A.TO drops. The stock ideas table highlights individual companies that behave independently from GIB-A.TO.
Best Diversifiers for GIB-A.TO
1 ETFs have low correlation with GIB-A.TO (below 0.3), 0 of which are negatively correlated. The least correlated is iShares S&P/TSX 60 Index ETF (XIU.TO) (Canada Equities) with a 1Y correlation of 0.24, down from 0.43 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares S&P/TSX 60 Index ETF | 0.24 | 0.39 | 0.43 | 91 | Canada Equities | GIB-A.TO vs XIU.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from GIB-A.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to GIB-A.TO and solid risk/return profiles. The least correlated is Cameco Corporation (CCO.TO) (Energy) with a 1Y correlation of -0.15, down from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cameco Corporation | -0.15 | 0.06 | 0.12 | 52 | Energy | |
| Hammond Power Solutions Inc | -0.10 | 0.13 | 0.12 | 89 | Industrials | |
| Suncor Energy Inc. | -0.10 | -0.01 | 0.02 | 93 | Energy | |
| Toromont Industries Ltd. | -0.03 | 0.19 | 0.25 | 96 | Industrials | |
| Canadian Natural Resources Limited | -0.02 | 0.01 | 0.06 | 86 | Energy |
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