Looking to balance out your exposure to X.TO? The ETFs below have the lowest correlation with X.TO — they tend to move on their own, which can help reduce risk when X.TO drops. The stock ideas table highlights individual companies that behave independently from X.TO.
Best Diversifiers for X.TO
5 ETFs have low correlation with X.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Global X Artificial Intelligence Semiconductor Index ETF (CHPS.TO) (Semiconductors) with a 1Y correlation of 0.11, roughly unchanged from 0.18 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X Artificial Intelligence Semiconductor Ind... | 0.11 | 0.18 | — | 94 | Semiconductors, Technology Equities | X.TO vs CHPS.TO | |
| iShares NASDAQ 100 Index ETF (CAD-Hedged) | 0.16 | 0.24 | 0.30 | 66 | Nasdaq-100 | X.TO vs XQQ.TO | |
| iShares Core Equity ETF Portfolio | 0.17 | 0.28 | 0.33 | 75 | Global Equities | X.TO vs XEQT.TO | |
| Vanguard S&P 500 Index ETF | 0.17 | 0.24 | 0.29 | 74 | S&P 500 | X.TO vs VFV.TO | |
| BMO Equal Weight Banks Index ETF | 0.21 | 0.26 | 0.27 | 96 | Financials Equities | X.TO vs ZEB.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from X.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to X.TO and solid risk/return profiles. The least correlated is ATCO Ltd (ACO-X.TO) (Utilities) with a 1Y correlation of -0.12, down from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| ATCO Ltd | -0.12 | 0.14 | 0.17 | 92 | Utilities | |
| Rogers Sugar Inc. | -0.10 | 0.09 | 0.15 | 84 | Consumer Defensive | |
| Canadian Utilities Limited | -0.07 | 0.13 | 0.17 | 93 | Utilities | |
| Canadian Natural Resources Limited | -0.03 | 0.03 | 0.09 | 86 | Energy | |
| Fortis Inc. | -0.01 | 0.17 | 0.18 | 79 | Utilities |
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