Looking to balance out your exposure to AQN.TO? The ETFs below have historically moved differently from AQN.TO, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for AQN.TO
5 ETFs have low correlation with AQN.TO (below 0.3), 0 of which are negatively correlated. The least correlated is CI Tech Giants Covered Call Common (TXF.TO) (Technology Equities) with a 1Y correlation of 0.04, down from 0.16 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| CI Tech Giants Covered Call Common | 0.04 | 0.13 | 0.16 | 52 | Technology Equities, Derivative Income | AQN.TO vs TXF.TO | |
| BMO Equal Weight Banks Index ETF | 0.11 | 0.34 | 0.28 | 98 | Financials Equities, Equal Weight | AQN.TO vs ZEB.TO | |
| BMO S&P 500 Index ETF | 0.13 | 0.21 | 0.24 | 71 | S&P 500 | AQN.TO vs ZSP.TO | |
| TD Canadian Equity Index ETF | 0.15 | 0.37 | 0.35 | 90 | Canada Equities | AQN.TO vs TTP.TO | |
| Vanguard FTSE Developed Europe All Cap Index ETF | 0.19 | 0.29 | 0.28 | 66 | Europe Equities | AQN.TO vs VE.TO |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for AQN.TO, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Canadian Natural Resources Limited (CNQ.TO) (Energy) with a 1Y correlation of -0.18, down from 0.07 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Canadian Natural Resources Limited | -0.18 | 0.06 | 0.07 | 88 | Energy | |
| Whitecap Resources Inc. | -0.14 | 0.06 | 0.06 | 93 | Energy | |
| Labrador Iron Ore Royalty Corporation | 0.04 | 0.21 | 0.17 | 50 | Basic Materials | |
| The Bank of Nova Scotia | 0.06 | 0.28 | 0.26 | 98 | Financial Services | |
| Bank of Montreal | 0.08 | 0.29 | 0.25 | 98 | Financial Services |
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