Looking to diversify beyond TXF.TO? The ETFs below have the lowest correlation with TXF.TO — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from TXF.TO.
Best Diversifiers for TXF.TO
6 ETFs have low correlation with TXF.TO (below 0.3), 4 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Hamilton Utilities YIELD MAXIMIZER ETF | -0.16 | — | — | 58 | Derivative Income, Utilities Equities | TXF.TO vs UMAX.TO | |
| Evolve Canadian Energy Enhanced Yield Index Fund E... | -0.16 | — | — | 77 | Energy Equities | TXF.TO vs OILY.TO | |
| Global X Canadian Oil and Gas Equity Covered Call ... | -0.12 | 0.09 | 0.18 | 85 | Derivative Income, Energy Equities | TXF.TO vs ENCC.TO | |
| Harvest Equal Weight Global Utilities Enhanced Inc... | -0.04 | -0.04 | — | 58 | Derivative Income, Utilities Equities | TXF.TO vs HUTE.TO | |
| CI High Interest Savings ETF | 0.08 | 0.04 | 0.03 | 100 | Money Market | TXF.TO vs CSAV.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from TXF.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to TXF.TO and solid risk/return profiles. The least correlated is Canadian Natural Resources Limited (CNQ.TO) (Energy) with a 1Y correlation of -0.12, down from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Canadian Natural Resources Limited | -0.12 | 0.09 | 0.17 | 86 | Energy |
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