Looking to diversify beyond VBAL.TO? The ETFs below have the lowest correlation with VBAL.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 VBAL.TO.
Best Diversifiers for VBAL.TO
11 ETFs have low correlation with VBAL.TO (below 0.3), 2 of which are negatively correlated. The least correlated is iShares S&P/TSX Capped Energy Index ETF (XEG.TO) (Energy Equities) with a 1Y correlation of -0.13, down from 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares S&P/TSX Capped Energy Index ETF | -0.13 | 0.12 | 0.21 | 85 | Energy Equities, Canada Equities | VBAL.TO vs XEG.TO | |
| iShares Premium Money Market ETF | -0.00 | 0.03 | 0.03 | 100 | Money Market | VBAL.TO vs CMR.TO | |
| Global X 0-3 Month T-Bill ETF | 0.01 | 0.03 | — | 99 | Canadian Government Bonds | VBAL.TO vs CBIL.TO | |
| Global X High Interest Savings ETF | 0.05 | 0.08 | 0.05 | 100 | Money Market | VBAL.TO vs CASH.TO | |
| BMO Money Market Fund ETF Series | 0.11 | 0.05 | — | 99 | Money Market | VBAL.TO vs ZMMK.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from VBAL.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to VBAL.TO and solid risk/return profiles. The least correlated is Fortis Inc. (FTS.TO) (Utilities) with a 1Y correlation of -0.16, down from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Fortis Inc. | -0.16 | 0.13 | 0.14 | 94 | Utilities | |
| Canadian Natural Resources Limited | -0.15 | 0.12 | 0.20 | 86 | Energy | |
| Suncor Energy Inc. | -0.15 | 0.07 | 0.16 | 93 | Energy | |
| Enbridge Inc. | -0.07 | 0.18 | 0.26 | 91 | Energy | |
| CT Real Estate Investment Trust | 0.27 | 0.37 | 0.45 | 92 | Real Estate |
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