Looking to diversify beyond YTSL.NEO? The ETFs below have the lowest correlation with YTSL.NEO — 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 YTSL.NEO.
Best Diversifiers for YTSL.NEO
22 ETFs have low correlation with YTSL.NEO (below 0.3), 8 of which are negatively correlated. The least correlated is Evolve Canadian Utilities Enhanced Yield Index Fund ETF (UTES.TO) (Derivative Income) with a 1Y correlation of -0.14, roughly unchanged from -0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Evolve Canadian Utilities Enhanced Yield Index Fun... | -0.14 | -0.08 | -0.08 | 82 | Derivative Income | YTSL.NEO vs UTES.TO | |
| BMO Covered Call Utilities ETF | -0.07 | 0.03 | 0.05 | 65 | Utilities Equities, Derivative Income | YTSL.NEO vs ZWU.TO | |
| Hamilton Utilities YIELD MAXIMIZER ETF | -0.05 | 0.08 | — | 64 | Derivative Income, Utilities Equities | YTSL.NEO vs UMAX.TO | |
| Global X Canadian Oil and Gas Equity Covered Call ... | -0.01 | 0.10 | — | 89 | Derivative Income, Energy Equities | YTSL.NEO vs ENCC.TO | |
| Global X Enhanced Canadian Oil and Gas Equity Cove... | -0.01 | 0.11 | 0.11 | 88 | Oil & Gas, Derivative Income | YTSL.NEO vs ENCL.TO |
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