Looking to balance out your exposure to ALV.V? The ETFs below have the lowest correlation with ALV.V — they tend to move on their own, which can help reduce risk when ALV.V drops. The stock ideas table highlights individual companies that behave independently from ALV.V.
Best Diversifiers for ALV.V
2 ETFs have low correlation with ALV.V (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.TO) (Dividend) with a 1Y correlation of 0.09, roughly unchanged from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard FTSE Canadian High Dividend Yield Index E... | 0.09 | 0.15 | 0.15 | 99 | Dividend | ALV.V vs VDY.TO | |
| iShares S&P/TSX Capped Energy Index ETF | 0.26 | 0.17 | 0.19 | 85 | Energy Equities, Canada Equities | ALV.V vs XEG.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ALV.V, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ALV.V and solid risk/return profiles. The least correlated is Sienna Senior Living Inc. (SIA.TO) (Healthcare) with a 1Y correlation of -0.05, roughly unchanged from -0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Sienna Senior Living Inc. | -0.05 | 0.01 | -0.02 | 84 | Healthcare |
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