Looking to balance out your exposure to TD.TO? The ETFs below have the lowest correlation with TD.TO — they tend to move on their own, which can help reduce risk when TD.TO drops. The stock ideas table highlights individual companies that behave independently from TD.TO.
Best Diversifiers for TD.TO
6 ETFs have low correlation with TD.TO (below 0.3), 2 of which are negatively correlated. The least correlated is Global X High Interest Savings ETF (CASH.TO) (Money Market) with a 1Y correlation of -0.03, roughly unchanged from 0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X High Interest Savings ETF | -0.03 | -0.01 | 0.01 | 100 | Money Market | TD.TO vs CASH.TO | |
| BMO Money Market Fund ETF Series | -0.01 | -0.00 | -0.00 | 100 | Money Market | TD.TO vs ZMMK.TO | |
| Global X 0-3 Month T-Bill ETF | 0.03 | 0.07 | 0.06 | 99 | Canadian Government Bonds | TD.TO vs CBIL.TO | |
| iShares Premium Money Market ETF | 0.11 | 0.10 | 0.05 | 99 | Money Market | TD.TO vs CMR.TO | |
| Purpose Global Bond Fund | 0.19 | 0.14 | 0.16 | 55 | TD.TO vs BND.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from TD.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to TD.TO and solid risk/return profiles. The least correlated is AltaGas Ltd. (ALA.TO) (Utilities) with a 1Y correlation of -0.15, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AltaGas Ltd. | -0.16 | 0.13 | 0.18 | 92 | Utilities | |
| Suncor Energy Inc. | -0.15 | 0.17 | 0.26 | 96 | Energy | |
| Emera Incorporated | -0.12 | 0.12 | 0.08 | 79 | Utilities | |
| Canadian Natural Resources Limited | -0.10 | 0.19 | 0.29 | 86 | Energy | |
| Quebecor Inc | -0.06 | 0.03 | 0.10 | 96 | Communication Services |
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