Looking to balance out your exposure to AEM.TO? The ETFs below have the lowest correlation with AEM.TO — they tend to move on their own, which can help reduce risk when AEM.TO drops. The stock ideas table highlights individual companies that behave independently from AEM.TO.
Best Diversifiers for AEM.TO
3 ETFs have low correlation with AEM.TO (below 0.3), 1 of which are negatively correlated. The least correlated is Purpose High Interest Savings Fund (PSA.TO) (Money Market) with a 1Y correlation of -0.09, down from 0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Purpose High Interest Savings Fund | -0.09 | -0.00 | 0.02 | 100 | Money Market | AEM.TO vs PSA.TO | |
| Vanguard FTSE Canadian High Dividend Yield Index E... | 0.24 | 0.27 | 0.23 | 98 | Dividend | AEM.TO vs VDY.TO | |
| iShares Core S&P 500 Index ETF (CAD-Hedged) | 0.28 | 0.21 | 0.17 | 65 | S&P 500 | AEM.TO vs XSP.TO | |
| iShares S&P/TSX 60 Index ETF | 0.57 | 0.45 | 0.37 | 87 | Canada Equities | AEM.TO vs XIU.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from AEM.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AEM.TO and solid risk/return profiles. The least correlated is Paramount Resources Ltd. (POU.TO) (Energy) with a 1Y correlation of -0.14, down from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Paramount Resources Ltd. | -0.14 | 0.06 | 0.12 | 86 | Energy | |
| Canadian Natural Resources Limited | -0.12 | 0.07 | 0.12 | 88 | Energy | |
| ARC Resources Ltd. | -0.09 | 0.10 | 0.12 | 52 | Energy | |
| Suncor Energy Inc. | -0.09 | 0.06 | 0.10 | 96 | Energy | |
| Cenovus Energy Inc. | -0.08 | 0.04 | 0.09 | 97 | Energy |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements AEM.TO
Add AEM.TO to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with AEM.TO