Looking to diversify beyond XSTP.TO? The ETFs below have the lowest correlation with XSTP.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 XSTP.TO.
Best Diversifiers for XSTP.TO
20 ETFs have low correlation with XSTP.TO (below 0.3), 15 of which are negatively correlated. The least correlated is iShares Core S&P 500 Index ETF (CAD-Hedged) (XSP.TO) (S&P 500) with a 1Y correlation of -0.25, roughly unchanged from -0.21 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Core S&P 500 Index ETF (CAD-Hedged) | -0.25 | -0.21 | — | 61 | S&P 500 | XSTP.TO vs XSP.TO | |
| iShares NASDAQ 100 Index ETF (CAD-Hedged) | -0.25 | -0.18 | — | 66 | Nasdaq-100 | XSTP.TO vs XQQ.TO | |
| iShares Core S&P/TSX Capped Composite Index ETF | -0.15 | -0.16 | — | 80 | Canada Equities | XSTP.TO vs XIC.TO | |
| iShares S&P/TSX 60 Index ETF | -0.14 | -0.15 | — | 82 | Canada Equities | XSTP.TO vs XIU.TO | |
| BMO Money Market Fund ETF Series | -0.10 | -0.04 | — | 100 | Money Market | XSTP.TO vs ZMMK.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from XSTP.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to XSTP.TO and solid risk/return profiles. The least correlated is Manulife Financial Corporation (MFC.TO) (Financial Services) with a 1Y correlation of -0.06, roughly unchanged from -0.11 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Manulife Financial Corporation | -0.06 | -0.11 | — | 74 | Financial Services |
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