Looking to balance out your exposure to TECK-B.TO? The ETFs below have the lowest correlation with TECK-B.TO — they tend to move on their own, which can help reduce risk when TECK-B.TO drops. The stock ideas table highlights individual companies that behave independently from TECK-B.TO.
Best Diversifiers for TECK-B.TO
1 ETFs have low correlation with TECK-B.TO (below 0.3), 1 of which are negatively correlated. The least correlated is Global X High Interest Savings ETF (CASH.TO) (Money Market) with a 1Y correlation of -0.11, roughly unchanged from -0.01 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X High Interest Savings ETF | -0.11 | -0.01 | — | 100 | Money Market | TECK-B.TO vs CASH.TO | |
| CI WisdomTree Japan Equity Index ETF | 0.30 | 0.29 | 0.23 | 88 | Japan Equities | TECK-B.TO vs JAPN.TO | |
| Horizons NASDAQ-100 Index ETF | 0.41 | 0.34 | 0.26 | 76 | Nasdaq-100 | TECK-B.TO vs HXQ.TO | |
| iShares Core S&P 500 Index ETF (CAD-Hedged) | 0.47 | 0.45 | 0.40 | 65 | S&P 500 | TECK-B.TO vs XSP.TO | |
| iShares Core MSCI EAFE IMI Index ETF | 0.54 | 0.48 | 0.43 | 50 | Foreign Large Cap Equities | TECK-B.TO vs XEF.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from TECK-B.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to TECK-B.TO and solid risk/return profiles. The least correlated is AltaGas Ltd. (ALA.TO) (Utilities) with a 1Y correlation of -0.20, down from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AltaGas Ltd. | -0.20 | 0.04 | 0.14 | 94 | Utilities | |
| Hydro One Limited | -0.10 | 0.03 | -0.02 | 74 | Utilities | |
| Fortis Inc. | -0.08 | -0.01 | -0.03 | 82 | Utilities | |
| Enbridge Inc. | -0.08 | 0.12 | 0.23 | 85 | Energy | |
| Loblaw Companies Limited | -0.07 | 0.01 | 0.02 | 59 | Consumer Defensive |
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