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
26 ETFs have low correlation with XEQT.TO (below 0.3), 9 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Evolve Canadian Energy Enhanced Yield Index Fund E... | -0.12 | — | — | 82 | Energy Equities | XEQT.TO vs OILY.TO | |
| Global X Canadian Oil and Gas Equity Covered Call ... | -0.10 | 0.22 | 0.29 | 89 | Derivative Income, Energy Equities | XEQT.TO vs ENCC.TO | |
| iShares S&P/TSX Capped Energy Index ETF | -0.09 | 0.18 | 0.28 | 89 | Energy Equities | XEQT.TO vs XEG.TO | |
| Global X Equal Weight Canadian Oil & Gas Index ETF | -0.09 | — | — | 91 | Commodity Producers Equities | XEQT.TO vs NRGY.TO | |
| Global X Enhanced Canadian Oil and Gas Equity Cove... | -0.08 | — | — | 88 | Oil & Gas, 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 -0.24, down from 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AltaGas Ltd. | -0.24 | 0.09 | 0.21 | 94 | Utilities | |
| Canadian Natural Resources Limited | -0.11 | 0.18 | 0.26 | 88 | Energy | |
| Fortis Inc. | -0.11 | 0.11 | 0.10 | 82 | Utilities | |
| Cenovus Energy Inc. | -0.08 | 0.14 | 0.23 | 97 | Energy | |
| Baytex Energy Corp. | -0.07 | 0.14 | 0.22 | 97 | Energy |
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Build a portfolio that complements XEQT.TO
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