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
1 ETFs have low correlation with K.TO (below 0.3), 0 of which are negatively correlated. The least correlated is iShares Core Canadian Short Term Bond Index ETF (XSB.TO) (Short-Term Bond) with a 1Y correlation of 0.23, roughly unchanged from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Core Canadian Short Term Bond Index ETF | 0.23 | 0.20 | 0.22 | 65 | Short-Term Bond, Canadian Government Bonds | K.TO vs XSB.TO | |
| Vanguard S&P 500 Index ETF | 0.31 | 0.17 | 0.15 | 74 | S&P 500 | K.TO vs VFV.TO | |
| Horizons All-Equity Asset Allocation ETF | 0.46 | 0.30 | 0.30 | 83 | Global Equities | K.TO vs HEQT.TO | |
| iShares Core MSCI EAFE IMI Index ETF | 0.46 | 0.30 | 0.27 | 50 | Global Equities | K.TO vs XEF-U.TO | |
| Vanguard All-Equity ETF Portfolio | 0.50 | 0.33 | 0.31 | 84 | 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 -0.11, down from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Paramount Resources Ltd. | -0.11 | 0.05 | 0.14 | 77 | Energy | |
| Pembina Pipeline Corporation | -0.09 | 0.08 | 0.17 | 92 | Energy | |
| Loblaw Companies Limited | -0.09 | 0.02 | 0.04 | 70 | Consumer Defensive | |
| Tamarack Valley Energy Ltd. | -0.04 | 0.11 | 0.15 | 98 | Energy | |
| Keyera Corp. | -0.03 | 0.10 | 0.16 | 87 | Energy |
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