Looking to diversify beyond UTES.TO? The ETFs below have historically moved differently from UTES.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 UTES.TO
65 ETFs have low correlation with UTES.TO (below 0.3), 47 of which are negatively correlated.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Evolve NASDAQ Technology Enhanced Yield Index Fund | -0.39 | — | — | 59 | Nasdaq-100, Derivative Income | UTES.TO vs QQQY.TO | |
| Evolve NASDAQ Technology Index Fund CAD Hedged | -0.38 | — | — | 68 | Nasdaq-100, Technology Equities | UTES.TO vs QQQT.TO | |
| Hamilton EnhancedTechnology DayMAX™ ETF | -0.37 | — | — | 62 | Derivative Income | UTES.TO vs QDAY.NEO | |
| CI Tech Giants Covered Call Common | -0.37 | — | — | 64 | Technology Equities, Derivative Income | UTES.TO vs TXF.TO | |
| Harvest Tech Leaders Enhanced Income ETF - Class A... | -0.36 | — | — | 56 | Technology Equities, Covered Call, Leveraged Equities | UTES.TO vs HTAE.TO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for UTES.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 Hydro One Limited (H.TO) (Utilities) with a 1Y correlation of 0.50, roughly unchanged from 0.58 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Hydro One Limited | 0.50 | 0.58 | 0.58 | 81 | Utilities |
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