Looking to balance out your exposure to GSY.TO? The ETFs below have the lowest correlation with GSY.TO — they tend to move on their own, which can help reduce risk when GSY.TO drops. The stock ideas table highlights individual companies that behave independently from GSY.TO.
Best Diversifiers for GSY.TO
5 ETFs have low correlation with GSY.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.TO) (Dividend) with a 1Y correlation of 0.12, down from 0.39 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard FTSE Canadian High Dividend Yield Index E... | 0.12 | 0.30 | 0.39 | 98 | Dividend | GSY.TO vs VDY.TO | |
| iShares Core MSCI Canadian Quality Dividend Index ... | 0.12 | 0.28 | 0.36 | 98 | Dividend, Large Cap Value Equities | GSY.TO vs XDIV.TO | |
| Hamilton Enhanced Canadian Covered Call ETF | 0.19 | 0.34 | — | 92 | Derivative Income | GSY.TO vs HDIV.TO | |
| Hamilton Enhanced U.S. Covered Call ETF | 0.26 | 0.38 | — | 75 | Derivative Income | GSY.TO vs HYLD.TO | |
| iShares NASDAQ 100 Index ETF (CAD-Hedged) | 0.30 | 0.36 | 0.48 | 66 | Nasdaq-100 | GSY.TO vs XQQ.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from GSY.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to GSY.TO and solid risk/return profiles. The least correlated is Enbridge Inc. (ENB.TO) (Energy) with a 1Y correlation of -0.16, down from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Enbridge Inc. | -0.16 | 0.06 | 0.13 | 81 | Energy | |
| Canadian Natural Resources Limited | -0.12 | 0.08 | 0.16 | 86 | Energy | |
| Brookfield Infrastructure Partners L.P | -0.03 | 0.27 | 0.25 | 76 | Utilities | |
| First Capital Real Estate Investment Trust | 0.06 | 0.22 | 0.29 | 91 | Real Estate | |
| Lundin Mining Corporation | 0.11 | 0.21 | 0.26 | 95 | Basic Materials |
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