Looking to diversify beyond VCE.TO? The ETFs below have the lowest correlation with VCE.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 VCE.TO.
Best Diversifiers for VCE.TO
9 ETFs have low correlation with VCE.TO (below 0.3), 1 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 0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X 0-3 Month T-Bill ETF | -0.04 | 0.01 | 0.01 | 99 | Canadian Government Bonds | VCE.TO vs CBIL.TO | |
| Evolve Canadian Utilities Enhanced Yield Index Fun... | 0.01 | — | — | 82 | Derivative Income | VCE.TO vs UTES.TO | |
| Purpose High Interest Savings Fund | 0.02 | 0.04 | 0.03 | 100 | Money Market | VCE.TO vs PSA.TO | |
| iShares S&P/TSX Capped Energy Index ETF | 0.03 | 0.33 | 0.46 | 89 | Energy Equities | VCE.TO vs XEG.TO | |
| iShares Premium Money Market ETF | 0.06 | 0.02 | -0.01 | 99 | Money Market | VCE.TO vs CMR.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from VCE.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to VCE.TO and solid risk/return profiles. The least correlated is Whitecap Resources Inc. (WCP.TO) (Energy) with a 1Y correlation of -0.00, down from 0.38 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Whitecap Resources Inc. | -0.00 | 0.25 | 0.38 | 97 | Energy | |
| Canadian Natural Resources Limited | 0.04 | 0.31 | 0.43 | 88 | Energy | |
| Enbridge Inc. | 0.10 | 0.35 | 0.45 | 85 | Energy | |
| Extendicare Inc. | 0.16 | 0.25 | 0.33 | 97 | Healthcare | |
| Bird Construction Inc. | 0.33 | 0.39 | 0.45 | 95 | Industrials |
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