Looking to balance out your exposure to AD-UN.TO? The ETFs below have the lowest correlation with AD-UN.TO — they tend to move on their own, which can help reduce risk when AD-UN.TO drops. The stock ideas table highlights individual companies that behave independently from AD-UN.TO.
Best Diversifiers for AD-UN.TO
0 ETFs have low correlation with AD-UN.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Global X S&P 500 Index Corporate Class ETF (HXS.TO) (S&P 500) with a 1Y correlation of 0.34, roughly unchanged from 0.42 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X S&P 500 Index Corporate Class ETF | 0.34 | 0.35 | 0.42 | 75 | S&P 500 | AD-UN.TO vs HXS.TO | |
| Hamilton Enhanced Canadian Covered Call ETF | 0.52 | 0.55 | — | 93 | Derivative Income | AD-UN.TO vs HDIV.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from AD-UN.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AD-UN.TO and solid risk/return profiles. The least correlated is Emera Incorporated (EMA.TO) (Utilities) with a 1Y correlation of -0.09, down from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Emera Incorporated | -0.09 | 0.15 | 0.11 | 83 | Utilities | |
| Quebecor Inc | -0.07 | 0.07 | 0.14 | 95 | Communication Services | |
| Hydro One Limited | -0.05 | 0.16 | 0.12 | 74 | Utilities | |
| BCE Inc. | -0.03 | 0.10 | 0.18 | 68 | Communication Services | |
| Fortis Inc. | -0.02 | 0.17 | 0.11 | 82 | Utilities |
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