Looking to diversify beyond XUT.TO? The ETFs below have historically moved differently from XUT.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 XUT.TO
27 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 -0.06, down from 0.30 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Core S&P 500 Index ETF (CAD-Hedged) | -0.06 | 0.25 | 0.30 | 67 | S&P 500 | XUT.TO vs XSP.TO | |
| iShares Core S&P 500 Index ETF | -0.04 | 0.19 | 0.25 | 83 | S&P 500 | XUT.TO vs XUS.TO | |
| Vanguard S&P 500 Index ETF | -0.02 | 0.19 | 0.25 | 83 | S&P 500 | XUT.TO vs VFV.TO | |
| BMO Equal Weight Banks Index ETF | -0.01 | 0.40 | 0.33 | 98 | Financials Equities, Equal Weight | XUT.TO vs ZEB.TO | |
| Vanguard FTSE Emerging Markets All Cap Index ETF | 0.01 | 0.20 | 0.14 | 57 | Emerging Markets Equities | XUT.TO vs VEE.TO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for XUT.TO, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Celestica Inc. (CLS.TO) (Technology) with a 1Y correlation of -0.03, down from 0.11 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Celestica Inc. | -0.03 | 0.07 | 0.11 | 79 | Technology | |
| Paramount Resources Ltd. | 0.04 | 0.10 | 0.11 | 79 | Energy | |
| Power Corporation of Canada | 0.06 | 0.24 | 0.27 | 97 | Financial Services | |
| Brookfield Infrastructure Partners L.P. | 0.25 | 0.58 | 0.57 | 87 | Utilities | |
| Keyera Corp. | 0.27 | 0.25 | 0.26 | 85 | Energy |
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