Looking to diversify beyond BKCC.TO? The ETFs below have historically moved differently from BKCC.TO, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for BKCC.TO
14 ETFs have low correlation with BKCC.TO (below 0.3), 8 of which are negatively correlated. The least correlated is CI Energy Giants Covered Call ETF Common Units (CAD Hedged) (NXF.TO) (Energy Equities) with a 1Y correlation of -0.18, down from 0.20 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| CI Energy Giants Covered Call ETF Common Units (CA... | -0.18 | 0.11 | 0.20 | 70 | Energy Equities, Derivative Income, Options Trading, Actively Managed | BKCC.TO vs NXF.TO | |
| Global X Canadian Oil and Gas Equity Covered Call ... | -0.16 | 0.16 | 0.24 | 93 | Derivative Income, Energy Equities | BKCC.TO vs ENCC.TO | |
| Harvest Energy Leaders Income ETF – Class A Units | -0.14 | 0.14 | 0.23 | 87 | Energy Equities, Derivative Income | BKCC.TO vs HPF.TO | |
| Global X Enhanced Canadian Oil and Gas Equity Cove... | -0.13 | — | — | 92 | Energy Equities, Derivative Income | BKCC.TO vs ENCL.TO | |
| Hamilton Energy YIELD MAXIMIZER ETF | -0.12 | — | — | 80 | Energy Equities, Derivative Income | BKCC.TO vs EMAX.TO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for BKCC.TO, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is The Bank of Nova Scotia (BNS.TO) (Financial Services) with a 1Y correlation of 0.80, up from 0.66 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Bank of Nova Scotia | 0.80 | 0.75 | 0.66 | 98 | Financial Services | |
| The Toronto-Dominion Bank | 0.85 | 0.72 | 0.64 | 99 | Financial Services |
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