Looking to diversify beyond UTIL.TO? The ETFs below have the lowest correlation with UTIL.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 UTIL.TO.
Best Diversifiers for UTIL.TO
14 ETFs have low correlation with UTIL.TO (below 0.3), 2 of which are negatively correlated. The least correlated is Global X 0-3 Month T-Bill ETF (CBIL.TO) (Canadian Government Bonds) with a 1Y correlation of -0.04, roughly unchanged from 0.05 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X 0-3 Month T-Bill ETF | -0.05 | 0.05 | — | 99 | Canadian Government Bonds | UTIL.TO vs CBIL.TO | |
| Global X High Interest Savings ETF | -0.01 | 0.05 | — | 100 | Money Market | UTIL.TO vs CASH.TO | |
| Global X NASDAQ-100 Covered Call ETF | 0.04 | 0.09 | — | 82 | Nasdaq-100, Derivative Income | UTIL.TO vs QQCC.TO | |
| Global X Enhanced NASDAQ-100 Covered Call ETF | 0.07 | — | — | 81 | Nasdaq-100, Derivative Income | UTIL.TO vs QQCL.TO | |
| Global X S&P 500 Index Corporate Class ETF | 0.09 | 0.21 | — | 71 | S&P 500 | UTIL.TO vs HXS.TO |
See all 23 diversifiers for UTIL.TO
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