Looking to diversify beyond XUT.TO? The ETFs below have the lowest correlation with XUT.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 XUT.TO.
Best Diversifiers for XUT.TO
26 ETFs have low correlation with XUT.TO (below 0.3), 4 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 -0.05, down from 0.30 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Core S&P 500 Index ETF (CAD-Hedged) | -0.05 | 0.26 | 0.30 | 56 | S&P 500 | XUT.TO vs XSP.TO | |
| iShares Core S&P 500 Index ETF | -0.02 | 0.20 | 0.26 | 77 | S&P 500 | XUT.TO vs XUS.TO | |
| Vanguard S&P 500 Index ETF | -0.02 | 0.20 | 0.25 | 78 | S&P 500 | XUT.TO vs VFV.TO | |
| BMO Equal Weight Banks Index ETF | -0.01 | 0.41 | 0.33 | 98 | Financials Equities, Equal Weight | XUT.TO vs ZEB.TO | |
| Global X S&P/TSX Capped Energy Index Corporate Cla... | 0.04 | 0.11 | 0.10 | 78 | Energy Equities | XUT.TO vs HXE.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from XUT.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to XUT.TO and solid risk/return profiles. The least correlated is Celestica Inc. (CLS.TO) (Technology) with a 1Y correlation of -0.01, down from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Celestica Inc. | -0.01 | 0.07 | 0.11 | 86 | Technology | |
| Paramount Resources Ltd. | 0.04 | 0.09 | 0.11 | 77 | Energy | |
| Power Corporation of Canada | 0.07 | 0.24 | 0.27 | 97 | Financial Services | |
| Brookfield Infrastructure Partners L.P. | 0.23 | 0.58 | 0.58 | 82 | Utilities | |
| Keyera Corp. | 0.25 | 0.25 | 0.26 | 88 | Energy |
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