Looking to balance out your exposure to LUG.TO? The ETFs below have the lowest correlation with LUG.TO — they tend to move on their own, which can help reduce risk when LUG.TO drops. The stock ideas table highlights individual companies that behave independently from LUG.TO.
Best Diversifiers for LUG.TO
3 ETFs have low correlation with LUG.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.TO) (Dividend) with a 1Y correlation of 0.21, roughly unchanged from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard FTSE Canadian High Dividend Yield Index E... | 0.21 | 0.19 | 0.22 | 99 | Dividend | LUG.TO vs VDY.TO | |
| iShares Core Canadian Short Term Bond Index ETF | 0.27 | 0.19 | 0.18 | 65 | Short-Term Bond, Canadian Government Bonds | LUG.TO vs XSB.TO | |
| iShares Core S&P 500 Index ETF | 0.29 | 0.12 | 0.09 | 74 | S&P 500 | LUG.TO vs XUS.TO | |
| Global X Artificial Intelligence Semiconductor Ind... | 0.30 | 0.18 | 0.19 | 85 | Semiconductors, Technology Equities | LUG.TO vs CHPS.TO | |
| iShares Global Infrastructure Index ETF | 0.35 | 0.26 | 0.26 | 82 | Energy Equities | LUG.TO vs CIF.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from LUG.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to LUG.TO and solid risk/return profiles. The least correlated is Pembina Pipeline Corporation (PPL.TO) (Energy) with a 1Y correlation of -0.15, down from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Pembina Pipeline Corporation | -0.15 | -0.01 | 0.12 | 92 | Energy | |
| Loblaw Companies Limited | -0.08 | 0.03 | 0.03 | 70 | Consumer Defensive | |
| Keyera Corp. | -0.07 | 0.02 | 0.11 | 87 | Energy | |
| Paramount Resources Ltd. | -0.06 | 0.06 | 0.14 | 77 | Energy | |
| Quebecor Inc | 0.01 | 0.05 | 0.08 | 97 | Communication Services |
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