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
2 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 -0.04, 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 | -0.04 | 0.01 | — | 100 | Money Market | TECK-B.TO vs CASH.TO | |
| BMO Short-Term Bond Index ETF | 0.19 | 0.09 | 0.03 | 68 | Canadian Government Bonds | TECK-B.TO vs ZSB.TO | |
| Vanguard FTSE Canadian High Dividend Yield Index E... | 0.33 | 0.40 | 0.40 | 99 | Dividend | TECK-B.TO vs VDY.TO | |
| CI WisdomTree Japan Equity Index ETF | 0.38 | 0.28 | 0.21 | 93 | Japan Equities, Asia Pacific Equities | TECK-B.TO vs JAPN.TO | |
| Vanguard S&P 500 Index ETF | 0.44 | 0.32 | 0.26 | 74 | S&P 500 | TECK-B.TO vs VFV.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 -0.30, down from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AltaGas Ltd. | -0.30 | -0.03 | 0.10 | 93 | Utilities | |
| Hydro One Limited | -0.18 | 0.01 | -0.01 | 90 | Utilities | |
| Fortis Inc. | -0.15 | -0.03 | -0.03 | 94 | Utilities | |
| Loblaw Companies Limited | -0.13 | -0.02 | 0.01 | 70 | Consumer Defensive | |
| Enbridge Inc. | -0.07 | 0.08 | 0.18 | 91 | Energy |
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