Looking to diversify beyond TBNK.TO? The ETFs below have historically moved differently from TBNK.TO, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for TBNK.TO
8 ETFs have low correlation with TBNK.TO (below 0.3), 0 of which are negatively correlated. The least correlated is BMO Covered Call Utilities ETF (ZWU.TO) (Utilities Equities) with a 1Y correlation of 0.00, down from 0.30 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BMO Covered Call Utilities ETF | 0.00 | 0.30 | — | 67 | Utilities Equities, Derivative Income | TBNK.TO vs ZWU.TO | |
| TD Cash Management ETF | 0.07 | — | — | 99 | Ultrashort Bond | TBNK.TO vs TCSH.TO | |
| Harvest Eli Lilly High Income Shares ETF Class A U... | 0.13 | — | — | 60 | Dividend | TBNK.TO vs LLYH.TO | |
| Caldwell U.S. Dividend Advantage Fund | 0.17 | 0.12 | — | 53 | Dividend, Momentum | TBNK.TO vs UDA.TO | |
| Brompton North American Low Volatility Dividend ET... | 0.18 | 0.19 | — | 84 | Dividend, Low Volatility | TBNK.TO vs BLOV.TO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for TBNK.TO, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is National Bank of Canada (NA.TO) (Financial Services) with a 1Y correlation of 0.83, roughly unchanged from 0.75 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| National Bank of Canada | 0.83 | 0.75 | — | 98 | Financial Services | |
| The Toronto-Dominion Bank | 0.85 | 0.73 | 0.73 | 99 | Financial Services | |
| Royal Bank of Canada | 0.85 | 0.79 | — | 99 | Financial Services |
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