Looking to diversify beyond VEE.TO? The ETFs below have historically moved differently from VEE.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 VEE.TO
13 ETFs have low correlation with VEE.TO (below 0.3), 6 of which are negatively correlated. The least correlated is Global X Canadian Oil and Gas Equity Covered Call ETF (ENCC.TO) (Derivative Income) with a 1Y correlation of -0.12, down from 0.14 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X Canadian Oil and Gas Equity Covered Call ... | -0.12 | 0.11 | 0.14 | 89 | Derivative Income, Energy Equities | VEE.TO vs ENCC.TO | |
| iShares Premium Money Market ETF | -0.12 | -0.03 | 0.00 | 100 | Money Market | VEE.TO vs CMR.TO | |
| iShares S&P/TSX Capped Energy Index ETF | -0.09 | 0.11 | 0.14 | 85 | Energy Equities, Canada Equities | VEE.TO vs XEG.TO | |
| Global X 0-3 Month T-Bill ETF | -0.03 | 0.02 | — | 99 | Canadian Government Bonds | VEE.TO vs CBIL.TO | |
| Global X High Interest Savings ETF | -0.01 | 0.01 | — | 100 | Money Market | VEE.TO vs CASH.TO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for VEE.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 Enbridge Inc. (ENB.TO) (Energy) with a 1Y correlation of -0.09, down from 0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Enbridge Inc. | -0.09 | 0.07 | 0.10 | 82 | Energy | |
| Canadian Natural Resources Limited | -0.06 | 0.11 | 0.12 | 87 | Energy | |
| The Toronto-Dominion Bank | 0.32 | 0.31 | 0.28 | 99 | Financial Services | |
| Sprott Physical Gold Trust | 0.38 | 0.21 | 0.14 | 64 | Financial Services | |
| Royal Bank of Canada | 0.39 | 0.35 | 0.33 | 99 | Financial Services |
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