Looking to diversify beyond XSH.TO? The ETFs below have the lowest correlation with XSH.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 XSH.TO.
Best Diversifiers for XSH.TO
28 ETFs have low correlation with XSH.TO (below 0.3), 4 of which are negatively correlated. The least correlated is Ninepoint Energy ETF (NNRG.NEO) (Energy Equities) with a 1Y correlation of -0.32, down from -0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Ninepoint Energy ETF | -0.32 | -0.09 | -0.09 | 80 | Energy Equities | XSH.TO vs NNRG.NEO | |
| iShares Premium Money Market ETF | -0.09 | -0.02 | 0.03 | 100 | Money Market | XSH.TO vs CMR.TO | |
| Global X High Interest Savings ETF | -0.02 | 0.12 | — | 100 | Money Market | XSH.TO vs CASH.TO | |
| iShares S&P/TSX Composite High Dividend Index ETF | -0.00 | 0.16 | 0.11 | 98 | Canada Equities | XSH.TO vs XEI.TO | |
| iShares Floating Rate Index ETF | 0.02 | -0.00 | -0.00 | 98 | Canadian Government Bonds | XSH.TO vs XFR.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from XSH.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to XSH.TO and solid risk/return profiles. The least correlated is Tourmaline Oil Corp. (TOU.TO) (Energy) with a 1Y correlation of -0.30, down from -0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Tourmaline Oil Corp. | -0.30 | -0.09 | -0.09 | 50 | Energy | |
| Cenovus Energy Inc. | -0.27 | -0.14 | -0.13 | 95 | Energy | |
| Whitecap Resources Inc. | -0.26 | -0.13 | -0.10 | 93 | Energy |
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