Looking to balance out your exposure to ARE.TO? The ETFs below have the lowest correlation with ARE.TO — they tend to move on their own, which can help reduce risk when ARE.TO drops. The stock ideas table highlights individual companies that behave independently from ARE.TO.
Best Diversifiers for ARE.TO
1 ETFs have low correlation with ARE.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Hamilton Canadian Financials Yield Maximizer ETF (HMAX.TO) (Derivative Income) with a 1Y correlation of 0.22, roughly unchanged from 0.31 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Hamilton Canadian Financials Yield Maximizer ETF | 0.22 | 0.31 | — | 96 | Derivative Income | ARE.TO vs HMAX.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ARE.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ARE.TO and solid risk/return profiles. The least correlated is ATCO Ltd (ACO-X.TO) (Utilities) with a 1Y correlation of -0.07, down from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| ATCO Ltd | -0.07 | 0.08 | 0.09 | 98 | Utilities | |
| Secure Energy Services Inc. | 0.09 | 0.17 | 0.22 | 81 | Industrials | |
| Lundin Mining Corporation | 0.12 | 0.18 | 0.26 | 93 | Basic Materials | |
| Almonty Industries Inc. | 0.14 | 0.11 | 0.10 | 91 | Basic Materials | |
| Neo Performance Materials Inc. | 0.16 | 0.20 | 0.25 | 90 | Basic Materials |
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