Looking to diversify beyond XEC.TO? The ETFs below have the lowest correlation with XEC.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 XEC.TO.
Best Diversifiers for XEC.TO
13 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 0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Premium Money Market ETF | -0.13 | -0.00 | 0.02 | 99 | Money Market | XEC.TO vs CMR.TO | |
| BMO Equal Weight Oil & Gas Index ETF | -0.08 | 0.13 | 0.17 | 86 | Energy Equities | XEC.TO vs ZEO.TO | |
| iShares S&P/TSX Capped Energy Index ETF | -0.05 | 0.14 | 0.17 | 86 | Energy Equities | XEC.TO vs XEG.TO | |
| Global X 0-3 Month T-Bill ETF | -0.01 | 0.07 | 0.06 | 99 | Canadian Government Bonds | XEC.TO vs CBIL.TO | |
| Global X High Interest Savings ETF | 0.02 | 0.03 | 0.02 | 100 | Money Market | XEC.TO vs CASH.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from XEC.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to XEC.TO and solid risk/return profiles. The least correlated is AltaGas Ltd. (ALA.TO) (Utilities) with a 1Y correlation of -0.24, down from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AltaGas Ltd. | -0.24 | 0.02 | 0.07 | 92 | Utilities | |
| Enbridge Inc. | -0.12 | 0.08 | 0.12 | 81 | Energy | |
| Loblaw Companies Limited | -0.08 | 0.05 | 0.03 | 54 | Consumer Defensive | |
| Canadian Natural Resources Limited | -0.04 | 0.13 | 0.15 | 86 | Energy | |
| CES Energy Solutions Corp. | 0.08 | 0.14 | 0.17 | 98 | Energy |
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