Looking to balance out your exposure to BMO.TO? The ETFs below have the lowest correlation with BMO.TO — they tend to move on their own, which can help reduce risk when BMO.TO drops. The stock ideas table highlights individual companies that behave independently from BMO.TO.
Best Diversifiers for BMO.TO
0 ETFs have low correlation with BMO.TO (below 0.3), 0 of which are negatively correlated. The least correlated is iShares S&P/TSX Composite High Dividend Index ETF (XEI.TO) (Canada Equities) with a 1Y correlation of 0.37, down from 0.65 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares S&P/TSX Composite High Dividend Index ETF | 0.37 | 0.56 | 0.65 | 98 | Canada Equities | BMO.TO vs XEI.TO | |
| iShares Core MSCI Canadian Quality Dividend Index ... | 0.38 | 0.54 | 0.64 | 98 | Dividend, Large Cap Value Equities | BMO.TO vs XDIV.TO | |
| iShares Core MSCI All Country World ex Canada Inde... | 0.55 | 0.51 | 0.55 | 81 | Global Equities | BMO.TO vs XAW.TO | |
| iShares Core MSCI EAFE IMI Index ETF | 0.55 | 0.52 | 0.56 | 65 | Foreign Large Cap Equities | BMO.TO vs XEF.TO | |
| BMO Monthly Income ETF | 0.55 | 0.56 | 0.57 | 79 | Diversified Portfolio | BMO.TO vs ZMI.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from BMO.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to BMO.TO and solid risk/return profiles. The least correlated is AltaGas Ltd. (ALA.TO) (Utilities) with a 1Y correlation of -0.19, down from 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AltaGas Ltd. | -0.19 | 0.10 | 0.21 | 93 | Utilities | |
| Canadian Natural Resources Limited | -0.15 | 0.11 | 0.26 | 83 | Energy | |
| Tamarack Valley Energy Ltd. | -0.12 | 0.09 | 0.24 | 98 | Energy | |
| ARC Resources Ltd. | -0.11 | 0.08 | 0.20 | 64 | Energy | |
| Emera Incorporated | -0.11 | 0.15 | 0.12 | 91 | Utilities |
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