Looking to balance out your exposure to GRT-UN.TO? The ETFs below have the lowest correlation with GRT-UN.TO — they tend to move on their own, which can help reduce risk when GRT-UN.TO drops. The stock ideas table highlights individual companies that behave independently from GRT-UN.TO.
Best Diversifiers for GRT-UN.TO
6 ETFs have low correlation with GRT-UN.TO (below 0.3), 0 of which are negatively correlated. The least correlated is iShares NASDAQ 100 Index ETF (CAD-Hedged) (XQQ.TO) (Nasdaq-100) with a 1Y correlation of 0.12, down from 0.31 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares NASDAQ 100 Index ETF (CAD-Hedged) | 0.12 | 0.24 | 0.31 | 67 | Nasdaq-100 | GRT-UN.TO vs XQQ.TO | |
| Vanguard S&P 500 Index ETF | 0.15 | 0.27 | 0.33 | 78 | S&P 500 | GRT-UN.TO vs VFV.TO | |
| Vanguard FTSE Global All Cap ex Canada Index ETF | 0.21 | 0.34 | 0.38 | 79 | Global Equities | GRT-UN.TO vs VXC.TO | |
| iShares Core MSCI All Country World ex Canada Inde... | 0.22 | 0.34 | 0.39 | 80 | Global Equities | GRT-UN.TO vs XAW.TO | |
| Vanguard FTSE Canada All Cap Index ETF | 0.28 | 0.42 | 0.43 | 83 | Canada Equities | GRT-UN.TO vs VCN.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from GRT-UN.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to GRT-UN.TO and solid risk/return profiles. The least correlated is Quebecor Inc (QBR-A.TO) (Communication Services) with a 1Y correlation of -0.07, down from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Quebecor Inc | -0.07 | 0.04 | 0.09 | 94 | Communication Services | |
| Canadian Natural Resources Limited | -0.05 | 0.08 | 0.11 | 88 | Energy | |
| Quebecor Inc | -0.02 | 0.08 | 0.13 | 95 | Communication Services | |
| ARC Resources Ltd. | -0.01 | 0.08 | 0.09 | 52 | Energy | |
| Peyto Exploration & Development Corp. | 0.02 | 0.12 | 0.13 | 79 | Energy |
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