Looking to balance out your exposure to TNZ.TO? The ETFs below have the lowest correlation with TNZ.TO — they tend to move on their own, which can help reduce risk when TNZ.TO drops. The stock ideas table highlights individual companies that behave independently from TNZ.TO.
Best Diversifiers for TNZ.TO
0 ETFs have low correlation with TNZ.TO (below 0.3), 0 of which are negatively correlated. The least correlated is iShares S&P/TSX Capped Energy Index ETF (XEG.TO) (Energy Equities) with a 1Y correlation of 0.45, up from 0.33 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares S&P/TSX Capped Energy Index ETF | 0.45 | 0.41 | 0.33 | 64 | Energy Equities, Canada Equities | TNZ.TO vs XEG.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from TNZ.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to TNZ.TO and solid risk/return profiles.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| G Mining Ventures Corp | 0.14 | — | — | 82 | Basic Materials | |
| Spartan Delta Corp. | 0.38 | 0.32 | 0.27 | 97 | Energy | |
| Athabasca Oil Corporation | 0.41 | 0.33 | 0.27 | 89 | Energy | |
| Canadian Natural Resources Limited | 0.44 | 0.38 | 0.32 | 77 | Energy | |
| Tamarack Valley Energy Ltd. | 0.45 | 0.39 | 0.30 | 98 | Energy |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements TNZ.TO
Add TNZ.TO to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with TNZ.TO