Looking to balance out your exposure to LSPD.TO? The ETFs below have the lowest correlation with LSPD.TO — they tend to move on their own, which can help reduce risk when LSPD.TO drops. The stock ideas table highlights individual companies that behave independently from LSPD.TO.
Best Diversifiers for LSPD.TO
0 ETFs have low correlation with LSPD.TO (below 0.3), 0 of which are negatively correlated. The least correlated is iShares S&P/TSX 60 Index ETF (XIU.TO) (Canada Equities) with a 1Y correlation of 0.37, down from 0.48 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares S&P/TSX 60 Index ETF | 0.37 | 0.43 | 0.48 | 91 | Canada Equities | LSPD.TO vs XIU.TO | |
| Vanguard S&P 500 Index ETF (CAD-hedged) | 0.44 | 0.47 | 0.54 | 50 | S&P 500 | LSPD.TO vs VSP.TO | |
| iShares Core S&P 500 Index ETF (CAD-Hedged) | 0.44 | 0.47 | 0.54 | 52 | S&P 500 | LSPD.TO vs XSP.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from LSPD.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to LSPD.TO and solid risk/return profiles. The least correlated is Enbridge Inc. (ENB.TO) (Energy) with a 1Y correlation of -0.27, down from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Enbridge Inc. | -0.27 | -0.02 | 0.10 | 91 | Energy | |
| Loblaw Companies Limited | -0.13 | 0.01 | 0.00 | 70 | Consumer Defensive | |
| Celestica Inc. | 0.09 | 0.27 | 0.32 | 81 | Technology | |
| IAMGOLD Corporation | 0.14 | 0.16 | 0.15 | 85 | Basic Materials | |
| Bombardier Inc | 0.25 | 0.30 | 0.36 | 94 | Industrials |
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