Looking to balance out your exposure to K.TO? The ETFs below have the lowest correlation with K.TO — they tend to move on their own, which can help reduce risk when K.TO drops. The stock ideas table highlights individual companies that behave independently from K.TO.
Best Diversifiers for K.TO
2 ETFs have low correlation with K.TO (below 0.3), 0 of which are negatively correlated. The least correlated is TD Global Technology Leaders Index ETF (TEC.TO) (Technology Equities) with a 1Y correlation of 0.19, roughly unchanged from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| TD Global Technology Leaders Index ETF | 0.19 | 0.13 | 0.14 | 58 | Technology Equities | K.TO vs TEC.TO | |
| Vanguard S&P 500 Index ETF | 0.22 | 0.14 | 0.14 | 74 | S&P 500 | K.TO vs VFV.TO | |
| Horizons All-Equity Asset Allocation ETF | 0.37 | 0.28 | 0.28 | 80 | Global Equities | K.TO vs HEQT.TO | |
| Vanguard All-Equity ETF Portfolio | 0.41 | 0.31 | 0.30 | 81 | Global Equities | K.TO vs VEQT.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from K.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to K.TO and solid risk/return profiles. The least correlated is Paramount Resources Ltd. (POU.TO) (Energy) with a 1Y correlation of -0.14, down from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Paramount Resources Ltd. | -0.14 | 0.06 | 0.14 | 85 | Energy | |
| Tamarack Valley Energy Ltd. | -0.03 | 0.12 | 0.17 | 99 | Energy | |
| Loblaw Companies Limited | 0.00 | 0.04 | 0.07 | 54 | Consumer Defensive | |
| Laurentian Bank of Canada | 0.03 | 0.08 | 0.12 | 96 | Financial Services | |
| Great-West Lifeco Inc. | 0.06 | 0.11 | 0.14 | 95 | Financial Services |
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