Looking to diversify beyond XEG.TO? The ETFs below have historically moved differently from XEG.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 XEG.TO
116 ETFs have low correlation with XEG.TO (below 0.3), 73 of which are negatively correlated. The least correlated is iShares Core Canadian Short Term Bond Index ETF (XSB.TO) (Short-Term Bond) with a 1Y correlation of -0.39, down from -0.15 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Core Canadian Short Term Bond Index ETF | -0.39 | -0.20 | -0.15 | 51 | Short-Term Bond, Canadian Government Bonds | XEG.TO vs XSB.TO | |
| BMO Short Corporate Bond Index ETF | -0.29 | -0.15 | -0.09 | 64 | Corporate Bonds | XEG.TO vs ZCS.TO | |
| iShares Equal Weight Banc & Lifeco ETF | -0.25 | 0.07 | 0.26 | 98 | Financials Equities, Equal Weight | XEG.TO vs CEW.TO | |
| iShares Canadian Financial Monthly Income ETF | -0.24 | 0.06 | 0.25 | 94 | Financials Equities, Canada Equities | XEG.TO vs FIE.TO | |
| Evolve Canadian Banks and Lifecos Enhanced Yield I... | -0.24 | 0.07 | — | 98 | Derivative Income | XEG.TO vs BANK.TO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for XEG.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 Exchange Income Corporation (EIF.TO) (Industrials) with a 1Y correlation of -0.23, down from 0.14 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Exchange Income Corporation | -0.23 | 0.02 | 0.14 | 98 | Industrials | |
| Royal Bank of Canada | -0.16 | 0.06 | 0.21 | 99 | Financial Services | |
| The Toronto-Dominion Bank | -0.14 | 0.15 | 0.26 | 99 | Financial Services | |
| Hydro One Limited | -0.10 | -0.04 | -0.03 | 85 | Utilities | |
| Fortuna Silver Mines Inc. | -0.07 | 0.12 | 0.19 | 62 | Basic Materials |
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