Looking to balance out your exposure to BBD-B.TO? The ETFs below have the lowest correlation with BBD-B.TO — they tend to move on their own, which can help reduce risk when BBD-B.TO drops. The stock ideas table highlights individual companies that behave independently from BBD-B.TO.
Best Diversifiers for BBD-B.TO
2 ETFs have low correlation with BBD-B.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 -0.10, up from -0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X U.S. Dollar Currency ETF | -0.10 | -0.19 | -0.24 | 57 | Currency | BBD-B.TO vs DLR.TO | |
| iShares Convertible Bond Index ETF | -0.00 | 0.14 | 0.14 | 51 | Convertible Bonds | BBD-B.TO vs CVD.TO | |
| iShares Core MSCI All Country World ex Canada Inde... | 0.42 | 0.41 | 0.42 | 77 | Global Equities | BBD-B.TO vs XAW.TO | |
| Vanguard FTSE Developed All Cap ex North America I... | 0.43 | 0.38 | 0.43 | 80 | Foreign Large Cap Equities, Foreign Small & Mid Cap Equities | BBD-B.TO vs VI.TO | |
| Hamilton Enhanced Canadian Bank ETF | 0.43 | 0.40 | 0.40 | 98 | Financials Equities, Canada Equities, Leveraged Equities | BBD-B.TO vs HCAL.TO |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from BBD-B.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to BBD-B.TO and solid risk/return profiles. The least correlated is Canadian Natural Resources Limited (CNQ.TO) (Energy) with a 1Y correlation of -0.05, down from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Canadian Natural Resources Limited | -0.05 | 0.11 | 0.16 | 89 | Energy | |
| Loblaw Companies Limited | -0.03 | 0.07 | 0.05 | 68 | Consumer Defensive | |
| Pembina Pipeline Corporation | -0.02 | 0.07 | 0.14 | 94 | Energy | |
| Tamarack Valley Energy Ltd. | -0.01 | 0.12 | 0.17 | 98 | Energy | |
| Bombardier Inc. | 0.02 | 0.13 | 0.17 | 89 | Industrials |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements BBD-B.TO
Add BBD-B.TO to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with BBD-B.TO