Looking to diversify beyond BLCK.TO? The ETFs below have the lowest correlation with BLCK.TO — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from BLCK.TO.
Best Diversifiers for BLCK.TO
2 ETFs have low correlation with BLCK.TO (below 0.3), 0 of which are negatively correlated. The least correlated is First Trust Canadian Capital Strength ETF (FST.TO) (Canada Equities) with a 1Y correlation of 0.06, down from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| First Trust Canadian Capital Strength ETF | 0.06 | 0.11 | 0.24 | 85 | Canada Equities | BLCK.TO vs FST.TO | |
| First Trust International Capital Strength ETF | 0.28 | 0.49 | 0.54 | 53 | International Equity | BLCK.TO vs FINT.TO | |
| First Trust AlphaDEX U.S. Health Care Sector Index... | 0.37 | 0.41 | 0.41 | 61 | Health & Biotech Equities | BLCK.TO vs FHH.TO | |
| First Trust Global Risk Managed Income Index ETF | 0.43 | 0.37 | 0.39 | 93 | Global Equity Income | BLCK.TO vs ETP.TO |
Diversification Analysis
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