Looking to diversify beyond SHLD.TO? The ETFs below have the lowest correlation with SHLD.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 SHLD.TO.
Best Diversifiers for SHLD.TO
10 ETFs have low correlation with SHLD.TO (below 0.3), 0 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X Cash Maximizer Corporate Class ETF | 0.02 | — | — | 66 | Bank Loan | SHLD.TO vs HSAV.TO | |
| Global X 0-3 Month T-Bill ETF | 0.03 | — | — | 99 | Canadian Government Bonds | SHLD.TO vs CBIL.TO | |
| Global X S&P/TSX Capped Energy Index Corporate Cla... | 0.06 | — | — | 86 | Energy Equities | SHLD.TO vs HXE.TO | |
| Global X High Interest Savings ETF | 0.06 | — | — | 100 | Money Market | SHLD.TO vs CASH.TO | |
| BMO Equal Weight Oil & Gas Index ETF | 0.12 | — | — | 86 | Energy Equities | SHLD.TO vs ZEO.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SHLD.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SHLD.TO and solid risk/return profiles. The least correlated is Sprott Physical Gold and Silver Trust (CEF.TO) (Financial Services) with a 1Y correlation of 0.18, roughly unchanged from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Sprott Physical Gold and Silver Trust | 0.18 | 0.16 | 0.16 | 77 | Financial Services | |
| Sprott Physical Gold Trust | 0.23 | — | — | 73 | Financial Services |
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