Looking to diversify beyond BNKL.TO? The ETFs below have the lowest correlation with BNKL.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 BNKL.TO.
Best Diversifiers for BNKL.TO
6 ETFs have low correlation with BNKL.TO (below 0.3), 1 of which are negatively correlated. The least correlated is Global X Canadian Oil and Gas Equity Covered Call ETF (ENCC.TO) (Derivative Income) with a 1Y correlation of -0.15, down from 0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X Canadian Oil and Gas Equity Covered Call ... | -0.15 | 0.05 | 0.05 | 77 | Derivative Income, Energy Equities | BNKL.TO vs ENCC.TO | |
| Global X 0-3 Month T-Bill ETF | 0.02 | 0.02 | — | 99 | Canadian Government Bonds | BNKL.TO vs CBIL.TO | |
| Global X High Interest Savings ETF | 0.05 | 0.05 | 0.05 | 99 | Money Market | BNKL.TO vs CASH.TO | |
| Global X Cash Maximizer Corporate Class ETF | 0.05 | 0.01 | 0.01 | 61 | Money Market | BNKL.TO vs HSAV.TO | |
| Brompton Canadian Cash Flow Kings ETF | 0.10 | — | — | 95 | Large Cap Blend Equities | BNKL.TO vs KNGC.TO |
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