Looking to balance out your exposure to SRU-UN.TO? The ETFs below have the lowest correlation with SRU-UN.TO — they tend to move on their own, which can help reduce risk when SRU-UN.TO drops. The stock ideas table highlights individual companies that behave independently from SRU-UN.TO.
Best Diversifiers for SRU-UN.TO
1 ETFs have low correlation with SRU-UN.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard S&P 500 Index ETF (VFV.TO) (S&P 500) with a 1Y correlation of 0.25, roughly unchanged from 0.33 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 Index ETF | 0.25 | 0.28 | 0.33 | 75 | S&P 500 | SRU-UN.TO vs VFV.TO | |
| iShares Core Equity ETF Portfolio | 0.36 | 0.43 | 0.47 | 85 | Global Equities | SRU-UN.TO vs XEQT.TO | |
| iShares ESG Aware MSCI Canada Index ETF | 0.38 | 0.47 | 0.52 | 75 | Canada Equities | SRU-UN.TO vs XESG.TO | |
| BMO Covered Call Canadian Banks ETF | 0.38 | 0.46 | 0.50 | 97 | Financials Equities, Derivative Income, Options Trading | SRU-UN.TO vs ZWB.TO | |
| RBC Canadian Bank Yield Index ETF | 0.39 | 0.45 | 0.49 | 97 | Financials Equities | SRU-UN.TO vs RBNK.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SRU-UN.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SRU-UN.TO and solid risk/return profiles. The least correlated is Parex Resources Inc. (PXT.TO) (Energy) with a 1Y correlation of -0.13, down from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Parex Resources Inc. | -0.13 | 0.01 | 0.08 | 86 | Energy | |
| Cardinal Energy Ltd. | -0.09 | 0.09 | 0.19 | 91 | Energy | |
| Brookfield Renewable Partners L.P | -0.01 | 0.27 | 0.27 | 85 | Utilities | |
| Methanex Corporation | -0.00 | 0.11 | 0.20 | 76 | Basic Materials | |
| Laurentian Bank of Canada | 0.01 | 0.30 | 0.36 | 96 | Financial Services |
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