Looking to diversify beyond XEG.TO? The ETFs below have the lowest correlation with XEG.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 XEG.TO.
Best Diversifiers for XEG.TO
84 ETFs have low correlation with XEG.TO (below 0.3), 47 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 -0.37, down from -0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Core Canadian Short Term Bond Index ETF | -0.37 | -0.17 | -0.14 | 55 | Short-Term Bond, Canadian Government Bonds | XEG.TO vs XSB.TO | |
| BMO Short Corporate Bond Index ETF | -0.26 | -0.12 | -0.09 | 66 | Canadian Government Bonds | XEG.TO vs ZCS.TO | |
| iShares Equal Weight Banc & Lifeco ETF | -0.22 | 0.09 | 0.27 | 97 | Financials Equities, Equal Weight | XEG.TO vs CEW.TO | |
| iShares Canadian Financial Monthly Income ETF | -0.21 | 0.08 | 0.26 | 93 | Financials Equities, Canada Equities | XEG.TO vs FIE.TO | |
| BetaPro S&P/TSX Capped Financials 2x Daily Bull ET... | -0.16 | 0.11 | 0.27 | 97 | Leveraged Equities, Financials Equities, Canada Equities | XEG.TO vs CFOU.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from XEG.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to XEG.TO and solid risk/return profiles. The least correlated is Exchange Income Corporation (EIF.TO) (Industrials) with a 1Y correlation of -0.24, down from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Exchange Income Corporation | -0.24 | 0.02 | 0.15 | 98 | Industrials | |
| Fortuna Silver Mines Inc. | -0.05 | 0.12 | 0.20 | 60 | Basic Materials | |
| Brookfield Renewable Corporation | 0.00 | 0.12 | 0.11 | 56 | Utilities | |
| Fortis Inc. | 0.01 | -0.02 | -0.04 | 93 | Utilities | |
| Sprott Physical Silver Trust | 0.01 | 0.12 | 0.11 | 68 | Basic Materials |
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