Looking to diversify beyond XEC.TO? The ETFs below have historically moved differently from XEC.TO, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for XEC.TO
18 ETFs have low correlation with XEC.TO (below 0.3), 4 of which are negatively correlated. The least correlated is iShares Premium Money Market ETF (CMR.TO) (Money Market) with a 1Y correlation of -0.13, down from -0.00 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Premium Money Market ETF | -0.13 | -0.03 | -0.00 | 100 | Money Market | XEC.TO vs CMR.TO | |
| BMO Equal Weight Oil & Gas Index ETF | -0.11 | 0.10 | 0.15 | 90 | Energy Equities, Equal Weight | XEC.TO vs ZEO.TO | |
| iShares S&P/TSX Capped Energy Index ETF | -0.06 | 0.11 | 0.15 | 85 | Energy Equities, Canada Equities | XEC.TO vs XEG.TO | |
| Global X 0-3 Month T-Bill ETF | -0.02 | 0.01 | 0.01 | 99 | Canadian Government Bonds | XEC.TO vs CBIL.TO | |
| Global X High Interest Savings ETF | 0.01 | -0.01 | 0.01 | 100 | Money Market | XEC.TO vs CASH.TO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for XEC.TO, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is AltaGas Ltd. (ALA.TO) (Utilities) with a 1Y correlation of -0.31, down from 0.06 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AltaGas Ltd. | -0.31 | -0.03 | 0.06 | 92 | Utilities | |
| Enbridge Inc. | -0.15 | 0.03 | 0.10 | 82 | Energy | |
| Loblaw Companies Limited | -0.15 | 0.00 | 0.01 | 66 | Consumer Defensive | |
| Tourmaline Oil Corp. | -0.11 | 0.07 | 0.11 | 55 | Energy | |
| Canadian Natural Resources Limited | -0.04 | 0.11 | 0.13 | 87 | Energy |
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