Looking to balance out your exposure to BK.TO? The ETFs below have the lowest correlation with BK.TO — they tend to move on their own, which can help reduce risk when BK.TO drops. The stock ideas table highlights individual companies that behave independently from BK.TO.
Best Diversifiers for BK.TO
4 ETFs have low correlation with BK.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 0.03, roughly unchanged from 0.07 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X High Interest Savings ETF | 0.03 | 0.07 | — | 100 | Money Market | BK.TO vs CASH.TO | |
| Purpose High Interest Savings Fund | 0.08 | 0.04 | 0.02 | 100 | Money Market | BK.TO vs PSA.TO | |
| iShares S&P/TSX Canadian Preferred Share Index ETF | 0.16 | 0.16 | 0.23 | 93 | Preferred Stock/Convertible Bonds | BK.TO vs CPD.TO | |
| iShares Core MSCI Canadian Quality Dividend Index ... | 0.28 | 0.45 | 0.53 | 98 | Dividend, Large Cap Value Equities | BK.TO vs XDIV.TO | |
| Global X Artificial Intelligence Semiconductor Ind... | 0.33 | 0.34 | — | 94 | Semiconductors, Technology Equities | BK.TO vs CHPS.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from BK.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to BK.TO and solid risk/return profiles. The least correlated is Aecon Group Inc. (ARE.TO) (Industrials) with a 1Y correlation of 0.10, down from 0.25 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Aecon Group Inc. | 0.10 | 0.18 | 0.25 | 95 | Industrials | |
| The Toronto-Dominion Bank | 0.46 | 0.45 | 0.53 | 98 | Financial Services | |
| Dividend 15 Split Corp. | 0.49 | 0.55 | 0.55 | 96 | Financial Services |
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