Looking to diversify beyond UTIL.TO? The ETFs below have historically moved differently from UTIL.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 UTIL.TO
14 ETFs have low correlation with UTIL.TO (below 0.3), 1 of which are negatively correlated. The least correlated is Global X NASDAQ-100 Covered Call ETF (QQCC.TO) (Nasdaq-100) with a 1Y correlation of -0.00, roughly unchanged from 0.08 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X NASDAQ-100 Covered Call ETF | -0.00 | 0.08 | — | 68 | Nasdaq-100, Derivative Income | UTIL.TO vs QQCC.TO | |
| Global X 0-3 Month T-Bill ETF | 0.01 | 0.08 | 0.07 | 99 | Canadian Government Bonds | UTIL.TO vs CBIL.TO | |
| Global X Enhanced NASDAQ-100 Covered Call ETF | 0.03 | — | — | 68 | Nasdaq-100, Derivative Income | UTIL.TO vs QQCL.TO | |
| Global X S&P 500 Index Corporate Class ETF | 0.04 | 0.18 | — | 81 | S&P 500 | UTIL.TO vs HXS.TO | |
| Global X High Interest Savings ETF | 0.05 | 0.07 | — | 100 | Money Market | UTIL.TO vs CASH.TO |
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