Looking to balance out your exposure to ATD.TO? The ETFs below have the lowest correlation with ATD.TO — they tend to move on their own, which can help reduce risk when ATD.TO drops. The stock ideas table highlights individual companies that behave independently from ATD.TO.
Best Diversifiers for ATD.TO
16 ETFs have low correlation with ATD.TO (below 0.3), 2 of which are negatively correlated. The least correlated is Global X U.S. Dollar Currency ETF (DLR.TO) (Currency) with a 1Y correlation of -0.04, up from -0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X U.S. Dollar Currency ETF | -0.04 | -0.10 | -0.14 | 51 | Currency | ATD.TO vs DLR.TO | |
| Invesco NASDAQ 100 Index ETF CAD Hedged | -0.00 | 0.15 | 0.26 | 51 | Nasdaq-100 | ATD.TO vs QQC-F.TO | |
| Global X High Interest Savings ETF | 0.04 | 0.01 | — | 100 | Money Market | ATD.TO vs CASH.TO | |
| BMO Money Market Fund ETF Series | 0.04 | 0.05 | — | 99 | Money Market | ATD.TO vs ZMMK.TO | |
| iShares Premium Money Market ETF | 0.05 | 0.02 | -0.01 | 100 | Money Market | ATD.TO vs CMR.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ATD.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ATD.TO and solid risk/return profiles. The least correlated is Suncor Energy Inc. (SU.TO) (Energy) with a 1Y correlation of -0.08, down from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Suncor Energy Inc. | -0.08 | 0.01 | 0.09 | 92 | Energy | |
| Tenaz Energy Corp. | -0.08 | 0.02 | 0.08 | 94 | Energy | |
| Canadian Natural Resources Limited | -0.07 | 0.04 | 0.11 | 83 | Energy | |
| Freehold Royalties Ltd. | -0.06 | -0.02 | 0.10 | 88 | Energy | |
| Whitecap Resources Inc. | -0.05 | -0.01 | 0.07 | 93 | Energy |
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