Looking to balance out your exposure to TRI.TO? The ETFs below have the lowest correlation with TRI.TO — they tend to move on their own, which can help reduce risk when TRI.TO drops. The stock ideas table highlights individual companies that behave independently from TRI.TO.
Best Diversifiers for TRI.TO
2 ETFs have low correlation with TRI.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Horizons NASDAQ-100 Index ETF (HXQ.TO) (Nasdaq-100) with a 1Y correlation of 0.04, down from 0.34 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Horizons NASDAQ-100 Index ETF | 0.04 | 0.24 | 0.34 | 75 | Nasdaq-100 | TRI.TO vs HXQ.TO | |
| Harvest Tech Achievers Growth & Income ETF | 0.07 | 0.23 | 0.32 | 67 | Technology Equities | TRI.TO vs HTA.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from TRI.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to TRI.TO and solid risk/return profiles. The least correlated is Toromont Industries Ltd. (TIH.TO) (Industrials) with a 1Y correlation of -0.10, down from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Toromont Industries Ltd. | -0.11 | 0.09 | 0.20 | 97 | Industrials | |
| Lundin Gold Inc. | -0.06 | 0.01 | 0.01 | 58 | Basic Materials | |
| Canadian Pacific Railway Limited | -0.03 | 0.13 | 0.22 | 54 | Industrials | |
| Kinross Gold Corporation | -0.02 | 0.04 | 0.04 | 80 | Basic Materials | |
| Pembina Pipeline Corporation | 0.00 | 0.09 | 0.09 | 83 | Energy |
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