Looking to diversify beyond RBNK.TO? The ETFs below have the lowest correlation with RBNK.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 RBNK.TO.
Best Diversifiers for RBNK.TO
1 ETFs have low correlation with RBNK.TO (below 0.3), 0 of which are negatively correlated. The least correlated is RBC Canadian Preferred Share ETF (RPF.TO) (Preferred Stock/Convertible Bonds) with a 1Y correlation of 0.17, roughly unchanged from 0.27 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| RBC Canadian Preferred Share ETF | 0.17 | 0.21 | 0.27 | 97 | Preferred Stock/Convertible Bonds | RBNK.TO vs RPF.TO | |
| Global X S&P/TSX Capped Financials Index Corporate... | 0.37 | 0.42 | 0.52 | 96 | Financials Equities | RBNK.TO vs HXF.TO | |
| Global X Canadian High Dividend Index Corporate Cl... | 0.40 | 0.54 | 0.55 | 98 | Canada Equities | RBNK.TO vs HXH.TO | |
| iShares S&P/TSX Composite High Dividend Index ETF | 0.42 | 0.65 | 0.71 | 97 | Canada Equities | RBNK.TO vs XEI.TO | |
| RBC Quant U.S. Dividend Leaders ETF (CAD) | 0.50 | 0.48 | 0.49 | 66 | Large Cap Blend Equities, Dividend | RBNK.TO vs RUD.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from RBNK.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to RBNK.TO and solid risk/return profiles. The least correlated is Canadian Natural Resources Limited (CNQ.TO) (Energy) with a 1Y correlation of -0.14, down from 0.27 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Canadian Natural Resources Limited | -0.14 | 0.13 | 0.27 | 77 | Energy | |
| Whitecap Resources Inc. | -0.11 | 0.12 | 0.24 | 94 | Energy | |
| Extendicare Inc. | 0.10 | 0.21 | 0.28 | 98 | Healthcare | |
| Hammond Power Solutions Inc | 0.22 | 0.25 | 0.24 | 93 | Industrials | |
| Bird Construction Inc. | 0.30 | 0.34 | 0.38 | 94 | Industrials |
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