Looking to balance out your exposure to TA.TO? The ETFs below have the lowest correlation with TA.TO — they tend to move on their own, which can help reduce risk when TA.TO drops. The stock ideas table highlights individual companies that behave independently from TA.TO.
Best Diversifiers for TA.TO
1 ETFs have low correlation with TA.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 0.29, roughly unchanged from 0.28 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Core Equity ETF Portfolio | 0.29 | 0.32 | 0.28 | 87 | Global Equities | TA.TO vs XEQT.TO | |
| iShares Core MSCI Emerging Markets IMI Index ETF | 0.34 | 0.28 | 0.21 | 69 | Emerging Markets Equities | TA.TO vs XEC.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from TA.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to TA.TO and solid risk/return profiles. The least correlated is Fortis Inc. (FTS.TO) (Utilities) with a 1Y correlation of -0.16, down from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Fortis Inc. | -0.16 | 0.06 | 0.15 | 92 | Utilities | |
| Emera Incorporated | -0.06 | 0.12 | 0.18 | 90 | Utilities | |
| First Capital Real Estate Investment Trust | 0.01 | 0.20 | 0.20 | 91 | Real Estate | |
| Canadian Natural Resources Limited | 0.10 | 0.13 | 0.13 | 88 | Energy | |
| Capital Power Corporation | 0.66 | 0.59 | 0.57 | 69 | Utilities |
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