Looking to balance out your exposure to TOU.TO? The ETFs below have the lowest correlation with TOU.TO — they tend to move on their own, which can help reduce risk when TOU.TO drops. The stock ideas table highlights individual companies that behave independently from TOU.TO.
Best Diversifiers for TOU.TO
6 ETFs have low correlation with TOU.TO (below 0.3), 6 of which are negatively correlated. The least correlated is Invesco NASDAQ 100 Index ETF CAD Hedged (QQC.TO) (Nasdaq-100) with a 1Y correlation of -0.10, down from 0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco NASDAQ 100 Index ETF CAD Hedged | -0.10 | 0.01 | 0.05 | 71 | Nasdaq-100 | TOU.TO vs QQC.TO | |
| iShares Core MSCI Emerging Markets IMI Index ETF | -0.07 | 0.09 | 0.12 | 73 | Emerging Markets Equities | TOU.TO vs XEC.TO | |
| iShares Core MSCI All Country World ex Canada Inde... | -0.06 | 0.09 | 0.13 | 75 | Global Equities | TOU.TO vs XAW.TO | |
| BMO S&P 500 Index ETF | -0.05 | 0.05 | 0.10 | 76 | S&P 500 | TOU.TO vs ZSP.TO | |
| iShares Core S&P U.S. Total Market Index ETF | -0.05 | 0.06 | 0.11 | 73 | Large Cap Blend Equities | TOU.TO vs XUU.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from TOU.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to TOU.TO and solid risk/return profiles. The least correlated is Aritzia Inc. (ATZ.TO) (Consumer Cyclical) with a 1Y correlation of -0.18, down from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Aritzia Inc. | -0.19 | 0.03 | 0.10 | 94 | Consumer Cyclical | |
| Power Corporation of Canada | -0.18 | -0.03 | 0.08 | 95 | Financial Services | |
| The Bank of Nova Scotia | -0.18 | 0.05 | 0.12 | 97 | Financial Services | |
| Linamar Corporation | -0.18 | 0.10 | 0.14 | 90 | Consumer Cyclical | |
| Alimentation Couche-Tard Inc. | -0.14 | -0.01 | 0.05 | 62 | Consumer Cyclical |
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