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
58 ETFs have low correlation with XEG.TO (below 0.3), 34 of which are negatively correlated. The least correlated is BMO Short Corporate Bond Index ETF (ZCS.TO) (Canadian Government Bonds) with a 1Y correlation of -0.27, down from -0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BMO Short Corporate Bond Index ETF | -0.27 | -0.13 | -0.09 | 56 | Canadian Government Bonds | XEG.TO vs ZCS.TO | |
| iShares Equal Weight Banc & Lifeco ETF | -0.20 | 0.14 | 0.29 | 94 | Financials Equities | XEG.TO vs CEW.TO | |
| BMO NASDAQ 100 Equity Index ETF | -0.16 | 0.01 | 0.08 | 74 | Nasdaq-100 | XEG.TO vs ZNQ.TO | |
| Invesco NASDAQ 100 Index ETF CAD Hedged | -0.16 | 0.02 | 0.09 | 76 | Nasdaq-100 | XEG.TO vs QQC.TO | |
| iShares NASDAQ 100 Index ETF (CAD-Hedged) | -0.16 | 0.06 | 0.16 | 66 | Nasdaq-100 | XEG.TO vs XQQ.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 -0.26, down from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Exchange Income Corporation | -0.26 | 0.05 | 0.16 | 98 | Industrials | |
| Fortuna Silver Mines Inc. | -0.04 | 0.13 | 0.21 | 63 | Basic Materials | |
| Fortis Inc. | -0.02 | -0.01 | -0.04 | 79 | Utilities | |
| Brookfield Renewable Corporation | 0.00 | 0.13 | 0.11 | 67 | Utilities | |
| Canadian National Railway Company | 0.02 | 0.20 | 0.21 | 63 | Industrials |
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