Looking to diversify beyond TEC.TO? The ETFs below have the lowest correlation with TEC.TO — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from TEC.TO.
Best Diversifiers for TEC.TO
23 ETFs have low correlation with TEC.TO (below 0.3), 3 of which are negatively correlated. The least correlated is Global X Canadian Oil and Gas Equity Covered Call ETF (ENCC.TO) (Derivative Income) with a 1Y correlation of -0.24, down from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X Canadian Oil and Gas Equity Covered Call ... | -0.24 | 0.01 | 0.08 | 85 | Derivative Income, Energy Equities | TEC.TO vs ENCC.TO | |
| Purpose Cash Management Fund | -0.06 | -0.02 | — | 100 | Money Market | TEC.TO vs MNY.TO | |
| Global X High Interest Savings ETF | -0.06 | 0.04 | — | 100 | Money Market | TEC.TO vs CASH.TO | |
| iShares S&P/TSX Composite High Dividend Index ETF | 0.03 | 0.19 | 0.28 | 98 | Canada Equities | TEC.TO vs XEI.TO | |
| Global X 0-3 Month T-Bill ETF | 0.03 | 0.04 | — | 99 | Canadian Government Bonds | TEC.TO vs CBIL.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from TEC.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to TEC.TO and solid risk/return profiles. The least correlated is Hydro One Limited (H.TO) (Utilities) with a 1Y correlation of -0.32, down from 0.00 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Hydro One Limited | -0.32 | -0.03 | 0.00 | 70 | Utilities | |
| Enbridge Inc. | -0.25 | -0.05 | 0.07 | 81 | Energy | |
| Canadian Natural Resources Limited | -0.18 | 0.02 | 0.08 | 86 | Energy | |
| Loblaw Companies Limited | -0.09 | 0.09 | 0.10 | 54 | Consumer Defensive | |
| Sprott Physical Gold Trust | 0.08 | 0.02 | -0.05 | 73 | Financial Services |
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