Looking to balance out your exposure to LBS.TO? The ETFs below have the lowest correlation with LBS.TO — they tend to move on their own, which can help reduce risk when LBS.TO drops. The stock ideas table highlights individual companies that behave independently from LBS.TO.
Best Diversifiers for LBS.TO
2 ETFs have low correlation with LBS.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Brompton Split Corp. Preferred Share ETF (SPLT.TO) (Preferred Stock/Convertible Bonds) with a 1Y correlation of 0.04, down from 0.20 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Brompton Split Corp. Preferred Share ETF | 0.04 | 0.20 | — | 70 | Preferred Stock/Convertible Bonds | LBS.TO vs SPLT.TO | |
| Evolve Active Canadian Preferred Share Fund | 0.07 | 0.10 | 0.13 | 92 | LBS.TO vs DIVS.TO | ||
| Global X NASDAQ-100 Covered Call ETF | 0.43 | 0.33 | 0.37 | 77 | Nasdaq-100, Derivative Income | LBS.TO vs QQCC.TO | |
| Global X S&P 500 Covered Call ETF | 0.43 | 0.38 | 0.35 | 80 | Derivative Income, S&P 500 | LBS.TO vs USCC.TO | |
| Vanguard FTSE Canadian High Dividend Yield Index E... | 0.51 | 0.54 | 0.60 | 98 | Dividend | LBS.TO vs VDY.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from LBS.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to LBS.TO and solid risk/return profiles. The least correlated is Athabasca Oil Corporation (ATH.TO) (Energy) with a 1Y correlation of -0.11, down from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Athabasca Oil Corporation | -0.11 | 0.04 | 0.15 | 90 | Energy | |
| BCE Inc. | -0.07 | 0.05 | 0.13 | 65 | Communication Services | |
| Brookfield Corporation | 0.44 | 0.46 | 0.45 | 87 | Financial Services | |
| Dividend 15 Split Corp. | 0.45 | 0.50 | 0.52 | 97 | Financial Services |
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