Looking to balance out your exposure to ACO-X.TO? The ETFs below have the lowest correlation with ACO-X.TO — they tend to move on their own, which can help reduce risk when ACO-X.TO drops. The stock ideas table highlights individual companies that behave independently from ACO-X.TO.
Best Diversifiers for ACO-X.TO
2 ETFs have low correlation with ACO-X.TO (below 0.3), 1 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Picton Mahoney Fortified Active Extension Alternat... | -0.07 | 0.06 | 0.08 | 77 | ACO-X.TO vs PFAE.TO | ||
| Vanguard FTSE Canadian High Dividend Yield Index E... | 0.07 | 0.31 | 0.29 | 99 | Dividend | ACO-X.TO vs VDY.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ACO-X.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ACO-X.TO and solid risk/return profiles. The least correlated is Aecon Group Inc. (ARE.TO) (Industrials) with a 1Y correlation of -0.07, down from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Aecon Group Inc. | -0.07 | 0.08 | 0.09 | 97 | Industrials | |
| Power Corporation of Canada | -0.05 | 0.18 | 0.21 | 97 | Financial Services | |
| Capital Power Corporation | -0.04 | 0.23 | 0.32 | 67 | Utilities | |
| Boralex Inc. | 0.15 | 0.24 | 0.21 | 66 | Utilities | |
| Hydro One Limited | 0.45 | 0.54 | 0.54 | 90 | Utilities |
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