Looking to diversify beyond XSHG.TO? The ETFs below have historically moved differently from XSHG.TO, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for XSHG.TO
8 ETFs have low correlation with XSHG.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco Canadian Government Floating Rate Index ETF (PFL.TO) (Canadian Government Bonds) with a 1Y correlation of 0.05, roughly unchanged from -0.03 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco Canadian Government Floating Rate Index ET... | 0.05 | -0.03 | -0.03 | 98 | Canadian Government Bonds | XSHG.TO vs PFL.TO | |
| iShares S&P/TSX Composite High Dividend Index ETF | 0.10 | 0.10 | 0.09 | 98 | Canada Equities | XSHG.TO vs XEI.TO | |
| Global X 0-3 Month T-Bill ETF | 0.12 | 0.06 | — | 99 | Canadian Government Bonds | XSHG.TO vs CBIL.TO | |
| iShares Floating Rate Index ETF | 0.13 | 0.04 | — | 98 | Canadian Government Bonds | XSHG.TO vs XFR.TO | |
| TD Cash Management ETF | 0.15 | — | — | 99 | Ultrashort Bond | XSHG.TO vs TCSH.TO |
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