Looking to balance out your exposure to CEF.TO? The ETFs below have the lowest correlation with CEF.TO — they tend to move on their own, which can help reduce risk when CEF.TO drops. The stock ideas table highlights individual companies that behave independently from CEF.TO.
Best Diversifiers for CEF.TO
3 ETFs have low correlation with CEF.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard U.S. Total Market Index ETF (VUN.TO) (Large Cap Blend Equities) with a 1Y correlation of 0.15, up from 0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard U.S. Total Market Index ETF | 0.15 | 0.09 | 0.01 | 77 | Large Cap Blend Equities | CEF.TO vs VUN.TO | |
| Invesco NASDAQ 100 Index ETF CAD Hedged | 0.15 | 0.08 | — | 77 | Nasdaq-100 | CEF.TO vs QQC.TO | |
| iShares Core MSCI Global Quality Dividend Index ET... | 0.18 | 0.12 | 0.09 | 60 | Global Equities | CEF.TO vs XDG.TO | |
| BMO MSCI Emerging Markets Index ETF | 0.31 | 0.27 | 0.20 | 83 | Emerging Markets Equities | CEF.TO vs ZEM.TO | |
| Vanguard FTSE Developed All Cap ex North America I... | 0.33 | 0.27 | 0.19 | 65 | International Equity | CEF.TO vs VIU.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CEF.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CEF.TO and solid risk/return profiles. The least correlated is E-L Financial Corporation Limited (ELF.TO) (Financial Services) with a 1Y correlation of -0.00, roughly unchanged from 0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| E-L Financial Corporation Limited | -0.00 | 0.00 | 0.02 | 62 | Financial Services | |
| Peyto Exploration & Development Corp. | 0.01 | 0.10 | 0.09 | 79 | Energy | |
| Sprott Inc | 0.55 | 0.52 | 0.44 | 91 | Financial Services | |
| Americas Gold and Silver Corporation | 0.58 | 0.49 | 0.45 | 83 | Basic Materials | |
| Sprott Physical Platinum and Palladium Trust | 0.73 | 0.58 | 0.47 | 65 | Financial Services |
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