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 0.47, up from 0.32 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares S&P/TSX Capped Energy Index ETF | 0.47 | 0.40 | 0.32 | 86 | Energy 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. The least correlated is Alimentation Couche-Tard Inc. (ATD.TO) (Consumer Cyclical) with a 1Y correlation of -0.06, down from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Alimentation Couche-Tard Inc. | -0.06 | 0.03 | 0.09 | 55 | Consumer Cyclical | |
| G Mining Ventures Corp | 0.13 | — | — | 72 | Basic Materials | |
| Spartan Delta Corp. | 0.35 | 0.31 | 0.26 | 99 | Energy | |
| Saturn Oil & Gas Inc | 0.37 | 0.33 | 0.25 | 98 | Energy | |
| Athabasca Oil Corporation | 0.40 | 0.33 | 0.26 | 94 | Energy |
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