Looking to diversify beyond TXF.TO? The ETFs below have historically moved differently from TXF.TO, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for TXF.TO
24 ETFs have low correlation with TXF.TO (below 0.3), 8 of which are negatively correlated.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Evolve Canadian Utilities Enhanced Yield Index Fun... | -0.37 | — | — | 67 | Utilities Equities, Derivative Income, Leveraged Equities | TXF.TO vs UTES.TO | |
| Hamilton Utilities YIELD MAXIMIZER ETF | -0.25 | 0.05 | — | 77 | Derivative Income, Utilities Equities | TXF.TO vs UMAX.TO | |
| Evolve Canadian Energy Enhanced Yield Index Fund E... | -0.16 | — | — | 84 | Energy Equities | TXF.TO vs OILY.TO | |
| Harvest Equal Weight Global Utilities Enhanced Inc... | -0.12 | -0.06 | — | 54 | Derivative Income, Utilities Equities | TXF.TO vs HUTE.TO | |
| CI Health Care Giants Covered Call ETF | -0.12 | 0.00 | 0.16 | 68 | Derivative Income, Health & Biotech Equities, Options Trading, Actively Managed | TXF.TO vs FHI.TO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for TXF.TO, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Canadian Natural Resources Limited (CNQ.TO) (Energy) with a 1Y correlation of -0.09, down from 0.16 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Canadian Natural Resources Limited | -0.09 | 0.09 | 0.16 | 88 | Energy | |
| Algonquin Power & Utilities Corp. | 0.04 | 0.13 | 0.16 | 50 | Utilities |
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