Looking to diversify beyond XEF-U.TO? The ETFs below have the lowest correlation with XEF-U.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 XEF-U.TO.
Best Diversifiers for XEF-U.TO
3 ETFs have low correlation with XEF-U.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco FTSE RAFI Global Small-Mid ETF (PZW.TO) (Global Equities) with a 1Y correlation of 0.23, roughly unchanged from 0.28 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco FTSE RAFI Global Small-Mid ETF | 0.23 | 0.27 | 0.28 | 86 | Global Equities | XEF-U.TO vs PZW.TO | |
| iShares S&P/TSX Composite High Dividend Index ETF | 0.24 | 0.33 | 0.32 | 98 | Canada Equities | XEF-U.TO vs XEI.TO | |
| CI Global Core Plus Equity ETF | 0.29 | 0.22 | 0.16 | 89 | Global Equities | XEF-U.TO vs ONEQ.TO | |
| iShares MSCI Min Vol EAFE Index ETF (CAD-Hedged) | 0.30 | 0.26 | 0.21 | 69 | Global Equities | XEF-U.TO vs XML.TO | |
| Vanguard Global Minimum Volatility ETF | 0.33 | 0.30 | 0.31 | 51 | Global Equities | XEF-U.TO vs VVO.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from XEF-U.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to XEF-U.TO and solid risk/return profiles. The least correlated is Loblaw Companies Limited (L.TO) (Consumer Defensive) with a 1Y correlation of -0.10, down from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Loblaw Companies Limited | -0.10 | 0.10 | 0.08 | 70 | Consumer Defensive | |
| Celestica Inc. | 0.27 | 0.20 | 0.20 | 81 | Technology | |
| Cameco Corporation | 0.36 | 0.21 | 0.20 | 52 | Energy | |
| Aritzia Inc. | 0.45 | 0.22 | 0.19 | 92 | Consumer Cyclical | |
| Kinross Gold Corporation | 0.46 | 0.30 | 0.27 | 72 | Basic Materials |
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