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
26 ETFs have low correlation with T.TO (below 0.3), 4 of which are negatively correlated. The least correlated is Hamilton Enhanced U.S. Covered Call ETF (HYLD.TO) (Derivative Income) with a 1Y correlation of -0.06, down from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Hamilton Enhanced U.S. Covered Call ETF | -0.06 | 0.01 | 0.16 | 69 | Derivative Income | T.TO vs HYLD.TO | |
| Global X High Interest Savings ETF | -0.04 | 0.01 | — | 100 | Money Market | T.TO vs CASH.TO | |
| BMO Money Market Fund ETF Series | -0.02 | 0.02 | — | 99 | Money Market | T.TO vs ZMMK.TO | |
| iShares Core S&P 500 Index ETF (CAD-Hedged) | -0.01 | 0.06 | 0.20 | 51 | S&P 500 | T.TO vs XSP.TO | |
| TD U.S. Equity Index ETF | 0.00 | 0.02 | 0.16 | 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 Whitecap Resources Inc. (WCP.TO) (Energy) with a 1Y correlation of -0.11, down from 0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Whitecap Resources Inc. | -0.11 | -0.08 | 0.02 | 92 | Energy | |
| Quebecor Inc | -0.11 | 0.06 | 0.08 | 92 | Communication Services | |
| Nutrien Ltd. | -0.08 | 0.13 | 0.17 | 66 | Basic Materials | |
| South Bow Corp | -0.06 | -0.05 | -0.05 | 96 | Energy | |
| Canadian Natural Resources Limited | -0.06 | -0.03 | 0.08 | 89 | Energy |
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