Looking to balance out your exposure to T.TO? The ETFs below have the lowest correlation with T.TO — they tend to move on their own, which can help reduce risk when T.TO drops. The stock ideas table highlights individual companies that behave independently from T.TO.
Best Diversifiers for T.TO
24 ETFs have low correlation with T.TO (below 0.3), 2 of which are negatively correlated. The least correlated is Hamilton Technology YIELD MAXIMIZER ETF (QMAX.TO) (Technology Equities) with a 1Y correlation of -0.06, roughly unchanged from -0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Hamilton Technology YIELD MAXIMIZER ETF | -0.06 | -0.11 | -0.11 | 52 | Technology Equities, Derivative Income | T.TO vs QMAX.TO | |
| BMO Money Market Fund ETF Series | -0.00 | 0.04 | — | 100 | Money Market | T.TO vs ZMMK.TO | |
| Hamilton Enhanced U.S. Covered Call ETF | 0.00 | 0.03 | — | 75 | Derivative Income | T.TO vs HYLD.TO | |
| Global X High Interest Savings ETF | 0.01 | 0.02 | 0.01 | 100 | Money Market | T.TO vs CASH.TO | |
| TD U.S. Equity Index ETF | 0.02 | 0.04 | 0.18 | 73 | Large Cap Blend Equities | T.TO vs TPU.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from T.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to T.TO and solid risk/return profiles. The least correlated is Quebecor Inc (QBR-A.TO) (Communication Services) with a 1Y correlation of -0.11, down from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Quebecor Inc | -0.11 | 0.06 | 0.09 | 96 | Communication Services | |
| Canadian Natural Resources Limited | -0.08 | -0.02 | 0.09 | 86 | Energy | |
| Gibson Energy Inc. | -0.08 | 0.01 | 0.12 | 78 | Energy | |
| Brookfield Renewable Partners L.P | -0.06 | 0.12 | 0.14 | 85 | Utilities | |
| Pembina Pipeline Corporation | -0.02 | 0.09 | 0.17 | 83 | Energy |
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Build a portfolio that complements T.TO
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