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Global X Equal Weight Canadian Oil & Gas Index ETF (NRGY.TO) Diversifiers

ETF · Currency in CAD · Last updated Jun 4, 2026

The Global X Equal Weight Canadian Oil & Gas Index ETF seeks to replicate, to the extent possible and net of expenses, the performance of an equal-weighted index designed to provide exposure to the largest Canadian oil & gas companies.

Looking to diversify beyond NRGY.TO? The ETFs below have the lowest correlation with NRGY.TO — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from NRGY.TO.

Best Diversifiers for NRGY.TO

13 ETFs have low correlation with NRGY.TO (below 0.3), 8 of which are negatively correlated. The least correlated is Global X NASDAQ-100 Covered Call ETF (QQCC.TO) (Nasdaq-100) with a 1Y correlation of -0.17, down from 0.05 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
QQCC.TO
Global X NASDAQ-100 Covered Call ETF-0.170.050.05
82
Nasdaq-100, Derivative IncomeNRGY.TO vs QQCC.TO
QQCL.TO
Global X Enhanced NASDAQ-100 Covered Call ETF-0.16——
81
Nasdaq-100, Derivative IncomeNRGY.TO vs QQCL.TO
HXS.TO
Global X S&P 500 Index Corporate Class ETF-0.140.070.07
71
S&P 500NRGY.TO vs HXS.TO
USCL.TO
Global X Enhanced S&P 500 Covered Call ETF-0.12——
75
Derivative Income, S&P 500NRGY.TO vs USCL.TO
HBNK.TO
Global X Equal Weight Banks Index ETF-0.11——
96
Financials EquitiesNRGY.TO vs HBNK.TO
See all 18 diversifiers for NRGY.TO

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from NRGY.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NRGY.TO and solid risk/return profiles. The least correlated is Peyto Exploration & Development Corp. (PEY.TO) (Energy) with a 1Y correlation of 0.59, roughly unchanged from 0.63 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
PEY.TO
Peyto Exploration & Development Corp.0.590.630.63
77
Energy

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Diversification Analysis

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