Looking to balance out your exposure to SLF.TO? The ETFs below have the lowest correlation with SLF.TO — they tend to move on their own, which can help reduce risk when SLF.TO drops. The stock ideas table highlights individual companies that behave independently from SLF.TO.
Best Diversifiers for SLF.TO
0 ETFs have low correlation with SLF.TO (below 0.3), 0 of which are negatively correlated. The least correlated is iShares Core Equity ETF Portfolio (XEQT.TO) (Global Equities) with a 1Y correlation of 0.34, down from 0.53 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Core Equity ETF Portfolio | 0.34 | 0.47 | 0.53 | 85 | Global Equities | SLF.TO vs XEQT.TO | |
| BMO Equal Weight Banks Index ETF | 0.36 | 0.52 | 0.60 | 98 | Financials Equities, Equal Weight | SLF.TO vs ZEB.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SLF.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SLF.TO and solid risk/return profiles. The least correlated is Canadian Natural Resources Limited (CNQ.TO) (Energy) with a 1Y correlation of -0.18, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Canadian Natural Resources Limited | -0.18 | 0.04 | 0.18 | 77 | Energy | |
| Imperial Oil Limited | -0.06 | 0.08 | 0.18 | 85 | Energy | |
| Gibson Energy Inc. | 0.01 | 0.13 | 0.23 | 78 | Energy | |
| Artemis Gold Inc | 0.03 | 0.06 | 0.11 | 59 | Basic Materials | |
| Canadian Utilities Limited | 0.10 | 0.22 | 0.23 | 97 | Utilities |
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