Looking to diversify beyond XFLB.TO? The ETFs below have the lowest correlation with XFLB.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 XFLB.TO.
Best Diversifiers for XFLB.TO
14 ETFs have low correlation with XFLB.TO (below 0.3), 3 of which are negatively correlated. The least correlated is Global X 0-3 Month T-Bill ETF (CBIL.TO) (Canadian Government Bonds) with a 1Y correlation of -0.01, roughly unchanged from 0.03 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X 0-3 Month T-Bill ETF | -0.01 | 0.03 | — | 99 | Canadian Government Bonds | XFLB.TO vs CBIL.TO | |
| Global X Equal Weight Canadian Pipelines Index ETF | -0.01 | 0.01 | — | 77 | Energy Equities | XFLB.TO vs PPLN.TO | |
| iShares S&P/TSX Composite High Dividend Index ETF | -0.00 | 0.10 | — | 98 | Canada Equities | XFLB.TO vs XEI.TO | |
| TD Cash Management ETF | 0.02 | — | — | 99 | Canadian Government Bonds | XFLB.TO vs TCSH.TO | |
| iShares Floating Rate Index ETF | 0.03 | -0.03 | — | 98 | Canadian Government Bonds | XFLB.TO vs XFR.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from XFLB.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to XFLB.TO and solid risk/return profiles. The least correlated is Enbridge Inc. (ENB.TO) (Energy) with a 1Y correlation of 0.07, roughly unchanged from 0.10 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Enbridge Inc. | 0.07 | 0.10 | — | 81 | Energy |
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