Looking to balance out your exposure to AI.TO? The ETFs below have the lowest correlation with AI.TO — they tend to move on their own, which can help reduce risk when AI.TO drops. The stock ideas table highlights individual companies that behave independently from AI.TO.
Best Diversifiers for AI.TO
1 ETFs have low correlation with AI.TO (below 0.3), 0 of which are negatively correlated. The least correlated is iShares S&P/TSX Composite High Dividend Index ETF (XEI.TO) (Canada Equities) with a 1Y correlation of 0.20, down from 0.43 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares S&P/TSX Composite High Dividend Index ETF | 0.20 | 0.39 | 0.43 | 98 | Canada Equities | AI.TO vs XEI.TO | |
| CI Tech Giants Covered Call Common | 0.31 | 0.28 | 0.33 | 56 | Technology Equities, Derivative Income | AI.TO vs TXF.TO | |
| RBC Quant U.S. Dividend Leaders ETF (CAD) | 0.36 | 0.32 | 0.33 | 72 | Large Cap Blend Equities, Dividend | AI.TO vs RUD.TO | |
| Global X Equal Weight Canadian Bank Covered Call E... | 0.41 | 0.41 | 0.40 | 97 | Derivative Income | AI.TO vs BKCC.TO | |
| Hamilton Canadian Financials Yield Maximizer ETF | 0.49 | 0.47 | — | 96 | Derivative Income | AI.TO vs HMAX.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from AI.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AI.TO and solid risk/return profiles. The least correlated is Keyera Corp. (KEY.TO) (Energy) with a 1Y correlation of -0.17, down from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Keyera Corp. | -0.17 | 0.09 | 0.19 | 87 | Energy | |
| Pembina Pipeline Corporation | -0.13 | 0.15 | 0.21 | 92 | Energy | |
| First Capital Real Estate Investment Trust | 0.28 | 0.34 | 0.37 | 90 | Real Estate | |
| IAMGOLD Corporation | 0.36 | 0.24 | 0.21 | 85 | Basic Materials | |
| SmartCentres Real Estate Investment Trust | 0.37 | 0.43 | 0.46 | 92 | Real Estate |
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