Looking to balance out your exposure to LIF.TO? The ETFs below have the lowest correlation with LIF.TO — they tend to move on their own, which can help reduce risk when LIF.TO drops. The stock ideas table highlights individual companies that behave independently from LIF.TO.
Best Diversifiers for LIF.TO
2 ETFs have low correlation with LIF.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard S&P 500 Index ETF (VFV.TO) (S&P 500) with a 1Y correlation of 0.25, roughly unchanged from 0.25 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 Index ETF | 0.25 | 0.20 | 0.25 | 78 | S&P 500 | LIF.TO vs VFV.TO | |
| Vanguard FTSE Canadian High Dividend Yield Index E... | 0.27 | 0.35 | 0.42 | 98 | Dividend | LIF.TO vs VDY.TO | |
| iShares Canadian Financial Monthly Income ETF | 0.30 | 0.33 | 0.39 | 94 | Canada Equities | LIF.TO vs FIE.TO | |
| Hamilton Canadian Financials YIELD MAXIMIZER ETF | 0.32 | 0.34 | — | 93 | Derivative Income | LIF.TO vs HMAX.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from LIF.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to LIF.TO and solid risk/return profiles. The least correlated is AltaGas Ltd. (ALA.TO) (Utilities) with a 1Y correlation of -0.15, down from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AltaGas Ltd. | -0.15 | 0.13 | 0.22 | 94 | Utilities | |
| Gibson Energy Inc. | -0.04 | 0.15 | 0.24 | 81 | Energy | |
| Canadian Natural Resources Limited | -0.04 | 0.19 | 0.30 | 88 | Energy | |
| Pembina Pipeline Corporation | -0.03 | 0.18 | 0.29 | 85 | Energy | |
| Enbridge Inc. | -0.02 | 0.16 | 0.26 | 85 | Energy |
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