Looking to diversify beyond XEQT.TO? The ETFs below have the lowest correlation with XEQT.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 XEQT.TO.
Best Diversifiers for XEQT.TO
30 ETFs have low correlation with XEQT.TO (below 0.3), 10 of which are negatively correlated. The least correlated is Global X S&P/TSX Capped Energy Index Corporate Class ETF (HXE.TO) (Energy Equities) with a 1Y correlation of -0.11, down from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X S&P/TSX Capped Energy Index Corporate Cla... | -0.11 | 0.16 | 0.24 | 59 | Energy Equities | XEQT.TO vs HXE.TO | |
| Evolve Canadian Energy Enhanced Yield Index Fund E... | -0.11 | -0.04 | -0.04 | 61 | Energy Equities | XEQT.TO vs OILY.TO | |
| Evolve Canadian Utilities Enhanced Yield Index Fun... | -0.09 | — | — | 88 | Derivative Income | XEQT.TO vs UTES.TO | |
| Global X Canadian Oil and Gas Equity Covered Call ... | -0.09 | 0.21 | 0.29 | 78 | Derivative Income, Energy Equities | XEQT.TO vs ENCC.TO | |
| Global X Enhanced Canadian Oil and Gas Equity Cove... | -0.07 | — | — | 77 | Energy Equities, Derivative Income | XEQT.TO vs ENCL.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from XEQT.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to XEQT.TO and solid risk/return profiles. The least correlated is AltaGas Ltd. (ALA.TO) (Utilities) with a 1Y correlation of -0.27, down from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AltaGas Ltd. | -0.27 | 0.08 | 0.20 | 94 | Utilities | |
| Fortis Inc. | -0.13 | 0.10 | 0.10 | 91 | Utilities | |
| Canadian Natural Resources Limited | -0.10 | 0.16 | 0.24 | 75 | Energy | |
| Enbridge Inc. | -0.07 | 0.18 | 0.28 | 89 | Energy | |
| Cenovus Energy Inc. | -0.07 | 0.15 | 0.23 | 92 | Energy |
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