Looking to diversify beyond XEF.TO? The ETFs below have the lowest correlation with XEF.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.TO.
Best Diversifiers for XEF.TO
14 ETFs have low correlation with XEF.TO (below 0.3), 3 of which are negatively correlated. The least correlated is iShares S&P/TSX Capped Energy Index ETF (XEG.TO) (Energy Equities) with a 1Y correlation of -0.12, down from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares S&P/TSX Capped Energy Index ETF | -0.12 | 0.12 | 0.20 | 86 | Energy Equities | XEF.TO vs XEG.TO | |
| Global X 0-3 Month T-Bill ETF | -0.06 | 0.02 | — | 99 | Canadian Government Bonds | XEF.TO vs CBIL.TO | |
| iShares Premium Money Market ETF | -0.01 | 0.03 | 0.03 | 99 | Money Market | XEF.TO vs CMR.TO | |
| Global X High Interest Savings ETF | 0.00 | 0.02 | 0.01 | 100 | Money Market | XEF.TO vs CASH.TO | |
| iShares Floating Rate Index ETF | 0.03 | 0.04 | 0.05 | 98 | Canadian Government Bonds | XEF.TO vs XFR.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from XEF.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to XEF.TO and solid risk/return profiles. The least correlated is AltaGas Ltd. (ALA.TO) (Utilities) with a 1Y correlation of -0.29, down from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AltaGas Ltd. | -0.29 | 0.05 | 0.16 | 92 | Utilities | |
| Canadian Natural Resources Limited | -0.13 | 0.12 | 0.19 | 86 | Energy | |
| Enbridge Inc. | -0.03 | 0.20 | 0.26 | 81 | Energy | |
| CES Energy Solutions Corp. | -0.02 | 0.14 | 0.18 | 98 | Energy | |
| Loblaw Companies Limited | 0.07 | 0.20 | 0.17 | 54 | Consumer Defensive |
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