Looking to diversify beyond XQQ.TO? The ETFs below have the lowest correlation with XQQ.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 XQQ.TO.
Best Diversifiers for XQQ.TO
21 ETFs have low correlation with XQQ.TO (below 0.3), 4 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 -0.16, down from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares S&P/TSX Capped Energy Index ETF | -0.16 | 0.06 | 0.16 | 86 | Energy Equities | XQQ.TO vs XEG.TO | |
| Global X High Interest Savings ETF | -0.05 | 0.02 | — | 100 | Money Market | XQQ.TO vs CASH.TO | |
| iShares Premium Money Market ETF | -0.03 | 0.02 | 0.01 | 99 | Money Market | XQQ.TO vs CMR.TO | |
| iShares S&P/TSX Capped Utilities Index ETF | -0.00 | 0.17 | 0.22 | 84 | Utilities Equities | XQQ.TO vs XUT.TO | |
| Harvest Equal Weight Global Utilities Income ETF | 0.02 | -0.01 | 0.15 | 58 | Utilities Equities | XQQ.TO vs HUTL.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from XQQ.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to XQQ.TO and solid risk/return profiles. The least correlated is Enbridge Inc. (ENB.TO) (Energy) with a 1Y correlation of -0.24, down from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Enbridge Inc. | -0.24 | -0.00 | 0.13 | 81 | Energy | |
| Canadian Natural Resources Limited | -0.18 | 0.07 | 0.15 | 86 | Energy | |
| Loblaw Companies Limited | -0.12 | 0.10 | 0.10 | 54 | Consumer Defensive | |
| Granite Real Estate Investment Trust | 0.12 | 0.24 | 0.31 | 85 | Real Estate | |
| Canadian National Railway Company | 0.15 | 0.27 | 0.37 | 63 | Industrials |
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