Looking to balance out your exposure to SU.TO? The ETFs below have the lowest correlation with SU.TO — they tend to move on their own, which can help reduce risk when SU.TO drops. The stock ideas table highlights individual companies that behave independently from SU.TO.
Best Diversifiers for SU.TO
12 ETFs have low correlation with SU.TO (below 0.3), 9 of which are negatively correlated. The least correlated is iShares 1-5 Year Laddered Government Bond Index ETF (CLF.TO) (Canadian Government Bonds) with a 1Y correlation of -0.29, down from -0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 1-5 Year Laddered Government Bond Index ET... | -0.29 | -0.15 | -0.14 | 60 | Canadian Government Bonds | SU.TO vs CLF.TO | |
| Hamilton Canadian Financials Yield Maximizer ETF | -0.17 | 0.10 | — | 96 | Derivative Income | SU.TO vs HMAX.TO | |
| Vanguard Balanced ETF Portfolio | -0.15 | 0.07 | 0.16 | 73 | Diversified Portfolio | SU.TO vs VBAL.TO | |
| Vanguard FTSE Developed All Cap ex North America I... | -0.14 | 0.06 | 0.14 | 69 | International Equity | SU.TO vs VIU.TO | |
| Vanguard FTSE Global All Cap ex Canada Index ETF | -0.14 | 0.05 | 0.13 | 76 | Global Equities | SU.TO vs VXC.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SU.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SU.TO and solid risk/return profiles. The least correlated is The Toronto-Dominion Bank (TD.TO) (Financial Services) with a 1Y correlation of -0.19, down from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Toronto-Dominion Bank | -0.19 | 0.12 | 0.24 | 99 | Financial Services | |
| National Bank of Canada | -0.19 | 0.04 | 0.17 | 98 | Financial Services | |
| Royal Bank of Canada | -0.13 | 0.07 | 0.21 | 99 | Financial Services | |
| Bank of Montreal | -0.13 | 0.10 | 0.24 | 98 | Financial Services | |
| Cascades Inc. | -0.10 | 0.07 | 0.13 | 79 | Basic Materials |
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