Looking to diversify beyond XBM.TO? The ETFs below have the lowest correlation with XBM.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 XBM.TO.
Best Diversifiers for XBM.TO
15 ETFs have low correlation with XBM.TO (below 0.3), 9 of which are negatively correlated. The least correlated is Global X S&P/TSX Capped Energy Index Corporate Class ETF (HXE.TO) (Energy Equities) with a 1Y correlation of -0.06, down from 0.39 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X S&P/TSX Capped Energy Index Corporate Cla... | -0.06 | 0.26 | 0.39 | 86 | Energy Equities | XBM.TO vs HXE.TO | |
| Global X Equal Weight Canadian Pipelines Index ETF | -0.05 | 0.21 | 0.36 | 77 | Energy Equities | XBM.TO vs PPLN.TO | |
| Ninepoint Energy ETF | -0.04 | 0.27 | 0.40 | 79 | Energy Equities | XBM.TO vs NNRG.NEO | |
| Global X Cash Maximizer Corporate Class ETF | -0.03 | 0.02 | 0.00 | 66 | Bank Loan | XBM.TO vs HSAV.TO | |
| Global X High Interest Savings ETF | -0.03 | 0.02 | — | 100 | Money Market | XBM.TO vs CASH.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from XBM.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to XBM.TO and solid risk/return profiles. The least correlated is Chemtrade Logistics Income Fund (CHE-UN.TO) (Basic Materials) with a 1Y correlation of 0.18, down from 0.37 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chemtrade Logistics Income Fund | 0.18 | 0.32 | 0.37 | 84 | Basic Materials | |
| Neo Performance Materials Inc. | 0.45 | 0.43 | 0.45 | 95 | Basic Materials | |
| Cameco Corporation | 0.52 | 0.42 | 0.46 | 84 | Energy |
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