Looking to diversify beyond XEMC.TO? The ETFs below have the lowest correlation with XEMC.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 XEMC.TO.
Best Diversifiers for XEMC.TO
5 ETFs have low correlation with XEMC.TO (below 0.3), 1 of which are negatively correlated. The least correlated is Global X High Interest Savings ETF (CASH.TO) (Money Market) with a 1Y correlation of -0.02, roughly unchanged from -0.01 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X High Interest Savings ETF | -0.02 | -0.01 | — | 100 | Money Market | XEMC.TO vs CASH.TO | |
| iShares S&P/TSX Composite High Dividend Index ETF | 0.16 | 0.30 | — | 98 | Canada Equities | XEMC.TO vs XEI.TO | |
| iShares Core MSCI Canadian Quality Dividend Index ... | 0.23 | 0.31 | — | 98 | Dividend, Large Cap Value Equities | XEMC.TO vs XDIV.TO | |
| BMO Low Volatility Canadian Equity ETF | 0.24 | 0.33 | 0.32 | 54 | Canada Equities | XEMC.TO vs ZLB.TO | |
| Vanguard FTSE Canadian High Dividend Yield Index E... | 0.30 | 0.36 | 0.35 | 98 | Dividend | XEMC.TO vs VDY.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from XEMC.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to XEMC.TO and solid risk/return profiles. The least correlated is Fortis Inc. (FTS.TO) (Utilities) with a 1Y correlation of -0.19, down from -0.01 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Fortis Inc. | -0.19 | -0.01 | — | 79 | Utilities | |
| Canadian Natural Resources Limited | -0.12 | 0.10 | — | 86 | Energy | |
| Pembina Pipeline Corporation | -0.10 | 0.09 | — | 83 | Energy | |
| Loblaw Companies Limited | -0.09 | 0.05 | — | 54 | Consumer Defensive | |
| Power Corporation of Canada | 0.10 | 0.14 | — | 94 | Financial Services |
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