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 | 0.20 | 0.22 | 98 | Dividend | LUG.TO vs VDY.TO | |
| iShares Core S&P 500 Index ETF | 0.21 | 0.11 | 0.08 | 73 | S&P 500 | LUG.TO vs XUS.TO | |
| TD Global Technology Leaders Index ETF | 0.22 | 0.11 | 0.09 | 58 | Technology Equities | LUG.TO vs TEC.TO | |
| iShares Global Infrastructure Index ETF | 0.32 | 0.25 | 0.25 | 70 | Energy Equities | LUG.TO vs CIF.TO | |
| Horizons All-Equity Asset Allocation ETF | 0.34 | 0.22 | 0.22 | 80 | Global Equities | LUG.TO vs HEQT.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 Paramount Resources Ltd. (POU.TO) (Energy) with a 1Y correlation of -0.08, down from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Paramount Resources Ltd. | -0.08 | 0.07 | 0.14 | 85 | Energy | |
| Keyera Corp. | -0.02 | 0.04 | 0.12 | 82 | Energy | |
| Loblaw Companies Limited | -0.01 | 0.05 | 0.05 | 54 | Consumer Defensive | |
| Tamarack Valley Energy Ltd. | 0.02 | 0.11 | 0.17 | 99 | Energy | |
| Quebecor Inc | 0.05 | 0.03 | 0.08 | 96 | Communication Services |
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