Looking to diversify beyond XBB.TO? The ETFs below have the lowest correlation with XBB.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 XBB.TO.
Best Diversifiers for XBB.TO
49 ETFs have low correlation with XBB.TO (below 0.3), 2 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 -0.32, down from -0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares S&P/TSX Capped Energy Index ETF | -0.32 | -0.14 | -0.14 | 86 | Energy Equities | XBB.TO vs XEG.TO | |
| iShares Premium Money Market ETF | -0.06 | -0.00 | 0.04 | 99 | Money Market | XBB.TO vs CMR.TO | |
| iShares S&P/TSX Composite High Dividend Index ETF | 0.01 | 0.18 | 0.09 | 98 | Canada Equities | XBB.TO vs XEI.TO | |
| Global X 0-3 Month T-Bill ETF | 0.03 | 0.07 | — | 99 | Canadian Government Bonds | XBB.TO vs CBIL.TO | |
| Global X High Interest Savings ETF | 0.06 | 0.09 | 0.07 | 100 | Money Market | XBB.TO vs CASH.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from XBB.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to XBB.TO and solid risk/return profiles. The least correlated is Canadian Natural Resources Limited (CNQ.TO) (Energy) with a 1Y correlation of -0.30, down from -0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Canadian Natural Resources Limited | -0.30 | -0.10 | -0.11 | 86 | Energy | |
| CES Energy Solutions Corp. | -0.29 | -0.12 | -0.10 | 98 | Energy | |
| AltaGas Ltd. | -0.13 | 0.06 | 0.07 | 92 | Utilities | |
| Enbridge Inc. | 0.06 | 0.14 | 0.08 | 81 | Energy | |
| Loblaw Companies Limited | 0.10 | 0.10 | 0.08 | 54 | Consumer Defensive |
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