Looking to diversify beyond QQU.TO? The ETFs below have the lowest correlation with QQU.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 QQU.TO.
Best Diversifiers for QQU.TO
5 ETFs have low correlation with QQU.TO (below 0.3), 2 of which are negatively correlated. The least correlated is Global X Canadian Oil and Gas Equity Covered Call ETF (ENCC.TO) (Derivative Income) with a 1Y correlation of -0.18, down from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X Canadian Oil and Gas Equity Covered Call ... | -0.18 | 0.08 | 0.17 | 89 | Derivative Income, Energy Equities | QQU.TO vs ENCC.TO | |
| Global X High Interest Savings ETF | -0.06 | 0.02 | — | 100 | Money Market | QQU.TO vs CASH.TO | |
| Global X Cash Maximizer Corporate Class ETF | 0.03 | 0.06 | 0.02 | 69 | Bank Loan | QQU.TO vs HSAV.TO | |
| Global X 0-3 Month T-Bill ETF | 0.04 | 0.04 | 0.02 | 99 | Canadian Government Bonds | QQU.TO vs CBIL.TO | |
| Vanguard FTSE Canadian High Dividend Yield Index E... | 0.28 | 0.36 | 0.43 | 98 | Dividend | QQU.TO vs VDY.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from QQU.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to QQU.TO and solid risk/return profiles. The least correlated is Fortis Inc. (FTS.TO) (Utilities) with a 1Y correlation of -0.29, down from -0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Fortis Inc. | -0.29 | -0.09 | -0.03 | 82 | Utilities | |
| Enbridge Inc. | -0.24 | -0.01 | 0.13 | 85 | Energy | |
| Royal Bank of Canada | 0.48 | 0.41 | 0.44 | 97 | Financial Services |
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