Looking to balance out your exposure to BAM.TO? The ETFs below have the lowest correlation with BAM.TO — they tend to move on their own, which can help reduce risk when BAM.TO drops. The stock ideas table highlights individual companies that behave independently from BAM.TO.
Best Diversifiers for BAM.TO
4 ETFs have low correlation with BAM.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Global X High Interest Savings ETF (CASH.TO) (Money Market) with a 1Y correlation of 0.00, roughly unchanged from 0.03 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X High Interest Savings ETF | 0.00 | 0.03 | — | 100 | Money Market | BAM.TO vs CASH.TO | |
| BMO Money Market Fund ETF Series | 0.02 | 0.01 | 0.01 | 100 | Money Market | BAM.TO vs ZMMK.TO | |
| iShares S&P/TSX Composite High Dividend Index ETF | 0.24 | 0.44 | 0.43 | 98 | Canada Equities | BAM.TO vs XEI.TO | |
| CI WisdomTree Japan Equity Index ETF | 0.26 | 0.30 | — | 88 | Japan Equities | BAM.TO vs JAPN.TO | |
| BMO Low Volatility Canadian Equity ETF | 0.34 | 0.45 | 0.42 | 62 | Canada Equities | BAM.TO vs ZLB.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from BAM.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to BAM.TO and solid risk/return profiles. The least correlated is Fortis Inc. (FTS.TO) (Utilities) with a 1Y correlation of -0.18, down from 0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Fortis Inc. | -0.18 | 0.09 | 0.05 | 82 | Utilities | |
| Keyera Corp. | -0.15 | 0.10 | 0.13 | 85 | Energy | |
| Enbridge Inc. | -0.09 | 0.13 | 0.14 | 85 | Energy | |
| Pembina Pipeline Corporation | -0.07 | 0.17 | — | 85 | Energy | |
| Canadian Natural Resources Limited | -0.05 | 0.15 | 0.18 | 88 | Energy |
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