Looking to diversify beyond XBAL.TO? The ETFs below have the lowest correlation with XBAL.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 XBAL.TO.
Best Diversifiers for XBAL.TO
12 ETFs have low correlation with XBAL.TO (below 0.3), 3 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 -0.10, 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 | -0.10 | 0.12 | 0.21 | 85 | Energy Equities, Canada Equities | XBAL.TO vs XEG.TO | |
| Picton Mahoney Fortified Income Alternative Fund | -0.09 | 0.01 | 0.05 | 67 | XBAL.TO vs PFIA.TO | ||
| iShares Premium Money Market ETF | -0.02 | 0.00 | 0.03 | 100 | Money Market | XBAL.TO vs CMR.TO | |
| Global X 0-3 Month T-Bill ETF | 0.00 | 0.03 | — | 99 | Canadian Government Bonds | XBAL.TO vs CBIL.TO | |
| Global X High Interest Savings ETF | 0.02 | 0.07 | — | 100 | Money Market | XBAL.TO vs CASH.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from XBAL.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to XBAL.TO and solid risk/return profiles. The least correlated is Canadian Natural Resources Limited (CNQ.TO) (Energy) with a 1Y correlation of -0.12, down from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Canadian Natural Resources Limited | -0.12 | 0.12 | 0.20 | 86 | Energy | |
| Enbridge Inc. | -0.08 | 0.17 | 0.27 | 91 | Energy | |
| Sprott Physical Gold Trust | 0.32 | 0.19 | 0.11 | 65 | Financial Services | |
| Alamos Gold Inc. | 0.33 | 0.27 | 0.24 | 55 | Basic Materials | |
| Dividend 15 Split Corp. | 0.45 | 0.50 | 0.48 | 98 | Financial Services |
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