Looking to diversify beyond XSB.TO? The ETFs below have the lowest correlation with XSB.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 XSB.TO.
Best Diversifiers for XSB.TO
28 ETFs have low correlation with XSB.TO (below 0.3), 5 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 -0.35, down from -0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares S&P/TSX Capped Energy Index ETF | -0.35 | -0.16 | -0.14 | 86 | Energy Equities | XSB.TO vs XEG.TO | |
| Global X Equal Weight Canadian Pipelines Index ETF | -0.09 | -0.00 | -0.02 | 77 | Energy Equities | XSB.TO vs PPLN.TO | |
| iShares Premium Money Market ETF | -0.05 | -0.00 | 0.06 | 99 | Money Market | XSB.TO vs CMR.TO | |
| Purpose Diversified Real Asset Fund | -0.03 | 0.04 | 0.05 | 94 | XSB.TO vs PRA.TO | ||
| iShares S&P/TSX Composite High Dividend Index ETF | -0.01 | 0.15 | 0.09 | 98 | Canada Equities | XSB.TO vs XEI.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from XSB.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to XSB.TO and solid risk/return profiles. The least correlated is Canadian Natural Resources Limited (CNQ.TO) (Energy) with a 1Y correlation of -0.35, down from -0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Canadian Natural Resources Limited | -0.35 | -0.15 | -0.12 | 86 | Energy | |
| Enbridge Inc. | 0.03 | 0.11 | 0.08 | 81 | Energy | |
| TC Energy Corporation | 0.05 | 0.12 | 0.07 | 89 | Energy | |
| Cameco Corporation | 0.07 | 0.04 | 0.01 | 84 | Energy | |
| 5N Plus Inc. | 0.08 | 0.08 | 0.06 | 99 | Basic Materials |
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