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
23 ETFs have low correlation with L.TO (below 0.3), 9 of which are negatively correlated. The least correlated is Global X Artificial Intelligence Semiconductor Index ETF (CHPS.TO) (Semiconductors) with a 1Y correlation of -0.17, down from 0.02 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X Artificial Intelligence Semiconductor Ind... | -0.17 | 0.02 | — | 94 | Semiconductors, Technology Equities | L.TO vs CHPS.TO | |
| iShares NASDAQ 100 Index ETF (CAD-Hedged) | -0.12 | 0.10 | 0.10 | 67 | Nasdaq-100 | L.TO vs XQQ.TO | |
| TD Global Technology Leaders Index ETF | -0.09 | 0.09 | 0.10 | 60 | Technology Equities | L.TO vs TEC.TO | |
| Invesco NASDAQ 100 Index ETF CAD Hedged | -0.08 | 0.11 | — | 77 | Nasdaq-100 | L.TO vs QQC.TO | |
| iShares Core MSCI Emerging Markets IMI Index ETF | -0.08 | 0.05 | 0.03 | 85 | 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 Energy Fuels Inc. (EFR.TO) (Energy) with a 1Y correlation of -0.12, down from -0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Energy Fuels Inc. | -0.12 | -0.03 | -0.01 | 86 | Energy | |
| MDA Space Ltd. | -0.11 | 0.00 | -0.00 | 76 | Industrials | |
| Suncor Energy Inc. | -0.09 | -0.07 | -0.04 | 96 | Energy | |
| SSR Mining Inc. | -0.09 | 0.01 | 0.01 | 88 | Basic Materials | |
| Badger Infrastructure Solutions Ltd. | -0.09 | 0.04 | 0.05 | 92 | Industrials |
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