Since I work for an oil and gas producer in Canada, I receive company shares as a performance bonus, resulting in a disproportionate amount of oil investments in my current portfolio. Is there a good hedge to the oil industry that will help to diversify my portfolio?
If the company shares are not restricted, you could simply hedge yourself by selling them.
Otherwise, an easy (but maybe not optimal) approach could be purchasing Proshares DDG or DUG ETFs, assuming that the US and Canadian industries are correlated. HED may work as a Canada-focused hedge, but not sure it is liquid enough.