Looking to diversify beyond XGB.TO? The ETFs below have the lowest correlation with XGB.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 XGB.TO.
Best Diversifiers for XGB.TO
8 ETFs have low correlation with XGB.TO (below 0.3), 0 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 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X 0-3 Month T-Bill ETF | 0.01 | 0.06 | 0.06 | 99 | Canadian Government Bonds | XGB.TO vs CBIL.TO | |
| iShares S&P/TSX Composite High Dividend Index ETF | 0.02 | 0.18 | 0.09 | 98 | Canada Equities | XGB.TO vs XEI.TO | |
| iShares Floating Rate Index ETF | 0.06 | 0.01 | 0.01 | 98 | Canadian Government Bonds | XGB.TO vs XFR.TO | |
| TD Cash Management ETF | 0.07 | — | — | 99 | Canadian Government Bonds | XGB.TO vs TCSH.TO | |
| Global X High Interest Savings ETF | 0.08 | 0.10 | — | 100 | Money Market | XGB.TO vs CASH.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from XGB.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to XGB.TO and solid risk/return profiles. The least correlated is Whitecap Resources Inc. (WCP.TO) (Energy) with a 1Y correlation of -0.28, down from -0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Whitecap Resources Inc. | -0.28 | -0.15 | -0.16 | 97 | Energy | |
| SmartCentres Real Estate Investment Trust | 0.36 | 0.32 | 0.23 | 84 | Real Estate |
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