Looking to balance out your exposure to L.TO? The ETFs below have the lowest correlation with L.TO — they tend to move on their own, which can help reduce risk when L.TO drops. The stock ideas table highlights individual companies that behave independently from L.TO.
Best Diversifiers for L.TO
28 ETFs have low correlation with L.TO (below 0.3), 20 of which are negatively correlated. The least correlated is Fidelity Global Innovators ETF (FINN.NEO) (Global Equities) with a 1Y correlation of -0.23, down from 0.01 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Global Innovators ETF | -0.23 | 0.01 | — | 84 | Global Equities | L.TO vs FINN.NEO | |
| Global X Artificial Intelligence Semiconductor Ind... | -0.22 | -0.02 | 0.01 | 85 | Semiconductors, Technology Equities | L.TO vs CHPS.TO | |
| Vanguard S&P 500 Index ETF (CAD-hedged) | -0.17 | 0.09 | 0.11 | 50 | S&P 500 | L.TO vs VSP.TO | |
| Invesco NASDAQ 100 Index ETF CAD Hedged | -0.17 | 0.07 | 0.09 | 59 | Nasdaq-100 | L.TO vs QQC.TO | |
| iShares Core MSCI Emerging Markets IMI Index ETF | -0.14 | 0.01 | 0.01 | 63 | Emerging Markets Equities | L.TO vs XEC.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from L.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to L.TO and solid risk/return profiles. The least correlated is IAMGOLD Corporation (IMG.TO) (Basic Materials) with a 1Y correlation of -0.14, down from 0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| IAMGOLD Corporation | -0.14 | -0.01 | 0.01 | 85 | Basic Materials | |
| SSR Mining Inc. | -0.14 | -0.02 | -0.01 | 88 | Basic Materials | |
| Teck Resources Limited | -0.13 | -0.02 | 0.01 | 76 | Basic Materials | |
| Energy Fuels Inc. | -0.13 | -0.04 | -0.02 | 59 | Energy | |
| OceanaGold Corporation | -0.12 | -0.04 | -0.02 | 76 | Basic Materials |
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