Looking to balance out your exposure to TF.TO? The ETFs below have the lowest correlation with TF.TO — they tend to move on their own, which can help reduce risk when TF.TO drops. The stock ideas table highlights individual companies that behave independently from TF.TO.
Best Diversifiers for TF.TO
1 ETFs have low correlation with TF.TO (below 0.3), 0 of which are negatively correlated. The least correlated is iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.TO) (Dividend) with a 1Y correlation of 0.29, down from 0.47 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Core MSCI Canadian Quality Dividend Index ... | 0.29 | 0.46 | 0.47 | 98 | Dividend, Large Cap Value Equities | TF.TO vs XDIV.TO | |
| Harvest Tech Achievers Enhanced Income ETF - Class... | 0.33 | 0.32 | — | 66 | Technology Equities | TF.TO vs HTAE.TO | |
| BMO S&P 500 Index ETF | 0.37 | 0.37 | 0.37 | 72 | S&P 500 | TF.TO vs ZSP.TO | |
| RBC Canadian Bank Yield Index ETF | 0.38 | 0.45 | 0.48 | 96 | Financials Equities | TF.TO vs RBNK.TO | |
| Evolve Canadian Banks and Lifecos Enhanced Yield I... | 0.39 | 0.47 | — | 96 | Derivative Income | TF.TO vs BANK.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from TF.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to TF.TO and solid risk/return profiles. The least correlated is Hydro One Limited (H.TO) (Utilities) with a 1Y correlation of -0.03, down from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Hydro One Limited | -0.03 | 0.18 | 0.15 | 70 | Utilities | |
| ATCO Ltd | 0.02 | 0.23 | 0.22 | 92 | Utilities | |
| BCE Inc. | 0.03 | 0.12 | 0.18 | 69 | Communication Services | |
| Canadian Utilities Limited | 0.04 | 0.24 | 0.21 | 93 | Utilities | |
| Northland Power Inc. | 0.05 | 0.24 | 0.22 | 54 | Utilities |
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Build a portfolio that complements TF.TO
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