Looking to diversify beyond USCL.TO? The ETFs below have historically moved differently from USCL.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 USCL.TO
38 ETFs have low correlation with USCL.TO (below 0.3), 16 of which are negatively correlated. The least correlated is BetaPro Inverse Bitcoin ETF (BITI.TO) (Leveraged Cryptocurrency) with a 1Y correlation of -0.37, down from -0.27 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BetaPro Inverse Bitcoin ETF | -0.37 | -0.27 | — | 54 | Leveraged Cryptocurrency | USCL.TO vs BITI.TO | |
| Evolve Canadian Utilities Enhanced Yield Index Fun... | -0.20 | — | — | 64 | Utilities Equities, Derivative Income, Leveraged Equities | USCL.TO vs UTES.TO | |
| Global X Equal Weight Canadian Pipelines Index ETF | -0.19 | 0.08 | — | 91 | Energy Equities, Equal Weight | USCL.TO vs PPLN.TO | |
| Global X Canadian Oil and Gas Equity Covered Call ... | -0.19 | 0.04 | — | 92 | Derivative Income, Energy Equities | USCL.TO vs ENCC.TO | |
| Global X Enhanced Canadian Oil and Gas Equity Cove... | -0.17 | — | — | 92 | Energy Equities, Derivative Income | USCL.TO vs ENCL.TO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for USCL.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 Power Corporation of Canada (POW.TO) (Financial Services) with a 1Y correlation of 0.33, up from 0.21 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Power Corporation of Canada | 0.33 | 0.21 | — | 97 | Financial Services | |
| The Bank of Nova Scotia | 0.40 | 0.34 | — | 98 | Financial Services |
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