Looking to diversify beyond XSHG.TO? The ETFs below have the lowest correlation with XSHG.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 XSHG.TO.
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 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco Canadian Government Floating Rate Index ET... | 0.05 | -0.03 | — | 97 | Canadian Government Bonds | XSHG.TO vs PFL.TO | |
| iShares S&P/TSX Composite High Dividend Index ETF | 0.06 | 0.09 | — | 98 | Canada Equities | XSHG.TO vs XEI.TO | |
| TD Cash Management ETF | 0.12 | — | — | 99 | Ultrashort Bond | XSHG.TO vs TCSH.TO | |
| iShares Floating Rate Index ETF | 0.13 | 0.05 | 0.06 | 98 | Canadian Government Bonds | XSHG.TO vs XFR.TO | |
| Global X 0-3 Month T-Bill ETF | 0.13 | 0.06 | 0.07 | 99 | Canadian Government Bonds | XSHG.TO vs CBIL.TO |
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