Looking to diversify beyond XHC.TO? The ETFs below have the lowest correlation with XHC.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 XHC.TO.
Best Diversifiers for XHC.TO
8 ETFs have low correlation with XHC.TO (below 0.3), 2 of which are negatively correlated. The least correlated is iShares S&P/TSX Capped Energy Index ETF (XEG.TO) (Energy Equities) with a 1Y correlation of -0.08, down from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares S&P/TSX Capped Energy Index ETF | -0.08 | -0.00 | 0.10 | 86 | Energy Equities | XHC.TO vs XEG.TO | |
| Global X High Interest Savings ETF | -0.02 | 0.03 | — | 100 | Money Market | XHC.TO vs CASH.TO | |
| iShares Global Infrastructure Index ETF | 0.24 | 0.32 | 0.42 | 70 | Energy Equities | XHC.TO vs CIF.TO | |
| iShares Genomics Immunology and Healthcare Index E... | 0.24 | 0.21 | — | 59 | Health & Biotech Equities | XHC.TO vs XDNA.TO | |
| iShares NASDAQ 100 Index ETF (CAD-Hedged) | 0.25 | 0.32 | 0.45 | 66 | Nasdaq-100 | XHC.TO vs XQQ.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from XHC.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to XHC.TO and solid risk/return profiles. The least correlated is Canadian Natural Resources Limited (CNQ.TO) (Energy) with a 1Y correlation of -0.07, down from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Canadian Natural Resources Limited | -0.07 | 0.01 | 0.10 | 86 | Energy | |
| Cameco Corporation | 0.01 | 0.13 | 0.19 | 84 | Energy | |
| Pembina Pipeline Corporation | 0.02 | 0.15 | 0.21 | 83 | Energy | |
| Loblaw Companies Limited | 0.16 | 0.20 | 0.20 | 54 | Consumer Defensive | |
| Fortis Inc. | 0.19 | 0.27 | 0.28 | 79 | Utilities |
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