Looking to diversify beyond XDIV.TO? The ETFs below have the lowest correlation with XDIV.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 XDIV.TO.
Best Diversifiers for XDIV.TO
54 ETFs have low correlation with XDIV.TO (below 0.3), 3 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 -0.06, 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 | -0.06 | 0.03 | — | 99 | Canadian Government Bonds | XDIV.TO vs CBIL.TO | |
| iShares Floating Rate Index ETF | -0.05 | -0.00 | 0.00 | 98 | Canadian Government Bonds | XDIV.TO vs XFR.TO | |
| Purpose Global Bond Fund | -0.00 | 0.15 | 0.19 | 55 | XDIV.TO vs BND.TO | ||
| BMO Money Market Fund ETF Series | 0.02 | 0.03 | — | 100 | Money Market | XDIV.TO vs ZMMK.TO | |
| Purpose High Interest Savings Fund | 0.02 | 0.03 | 0.02 | 100 | Money Market | XDIV.TO vs PSA.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from XDIV.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to XDIV.TO and solid risk/return profiles. The least correlated is BCE Inc. (BCE.TO) (Communication Services) with a 1Y correlation of -0.04, down from 0.28 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| BCE Inc. | -0.04 | 0.15 | 0.28 | 69 | Communication Services | |
| Brookfield Renewable Partners L.P | 0.09 | 0.32 | 0.26 | 85 | Utilities | |
| Rogers Sugar Inc. | 0.13 | 0.30 | 0.34 | 84 | Consumer Defensive | |
| Exchange Income Corporation | 0.14 | 0.35 | 0.41 | 98 | Industrials | |
| Cameco Corporation | 0.17 | 0.24 | 0.29 | 84 | Energy |
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