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
10 ETFs have low correlation with XBAL.TO (below 0.3), 2 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 -0.00, roughly unchanged from 0.03 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X 0-3 Month T-Bill ETF | -0.00 | 0.03 | — | 99 | Canadian Government Bonds | XBAL.TO vs CBIL.TO | |
| iShares Premium Money Market ETF | -0.00 | 0.01 | 0.04 | 100 | Money Market | XBAL.TO vs CMR.TO | |
| Global X High Interest Savings ETF | 0.01 | 0.06 | — | 99 | Money Market | XBAL.TO vs CASH.TO | |
| Brompton Split Corp. Preferred Share ETF | 0.07 | 0.18 | — | 70 | Preferred Stock/Convertible Bonds | XBAL.TO vs SPLT.TO | |
| BMO Money Market Fund ETF Series | 0.11 | 0.04 | 0.03 | 99 | Money Market | XBAL.TO vs ZMMK.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 BCE Inc. (BCE.TO) (Communication Services) with a 1Y correlation of -0.11, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| BCE Inc. | -0.11 | 0.06 | 0.18 | 65 | Communication Services | |
| Canadian Natural Resources Limited | -0.10 | 0.14 | 0.21 | 77 | Energy | |
| Enbridge Inc. | -0.00 | 0.20 | 0.27 | 89 | Energy | |
| Maple Leaf Foods Inc. | 0.08 | 0.14 | 0.28 | 51 | Consumer Defensive | |
| Sprott Physical Gold Trust | 0.28 | 0.19 | 0.10 | 65 | Financial Services |
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