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
24 ETFs have low correlation with XUT.TO (below 0.3), 1 of which are negatively correlated. The least correlated is iShares NASDAQ 100 Index ETF (CAD-Hedged) (XQQ.TO) (Nasdaq-100) with a 1Y correlation of -0.00, down from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares NASDAQ 100 Index ETF (CAD-Hedged) | -0.00 | 0.17 | 0.22 | 66 | Nasdaq-100 | XUT.TO vs XQQ.TO | |
| iShares Core S&P 500 Index ETF (CAD-Hedged) | 0.02 | 0.27 | 0.30 | 61 | S&P 500 | XUT.TO vs XSP.TO | |
| iShares S&P/TSX Capped Energy Index ETF | 0.02 | 0.11 | 0.11 | 86 | Energy Equities | XUT.TO vs XEG.TO | |
| iShares Core S&P 500 Index ETF | 0.05 | 0.23 | 0.27 | 73 | S&P 500 | XUT.TO vs XUS.TO | |
| Vanguard S&P 500 Index ETF | 0.05 | 0.22 | 0.26 | 74 | S&P 500 | XUT.TO vs VFV.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 Paramount Resources Ltd. (POU.TO) (Energy) with a 1Y correlation of 0.01, roughly unchanged from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Paramount Resources Ltd. | 0.01 | 0.10 | 0.10 | 85 | Energy | |
| Celestica Inc. | 0.03 | 0.08 | 0.12 | 94 | Technology | |
| Power Corporation of Canada | 0.11 | 0.27 | 0.28 | 94 | Financial Services | |
| Brookfield Infrastructure Partners L.P | 0.22 | 0.60 | 0.58 | 76 | Utilities | |
| Keyera Corp. | 0.23 | 0.25 | 0.25 | 82 | Energy |
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