Looking to diversify beyond CFOD.TO? The ETFs below have the lowest correlation with CFOD.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 CFOD.TO.
Best Diversifiers for CFOD.TO
9 ETFs have low correlation with CFOD.TO (below 0.3), 7 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X Equal Weight Banks Index ETF | -0.90 | — | — | 98 | Financials Equities, Equal Weight | CFOD.TO vs HBNK.TO | |
| Global X S&P/TSX 60 Index Corporate Class ETF | -0.74 | -0.80 | -0.82 | 89 | Canada Equities | CFOD.TO vs HXT.TO | |
| Global X Enhanced S&P 500 Covered Call ETF | -0.53 | — | — | 84 | Derivative Income, S&P 500 | CFOD.TO vs USCL.TO | |
| Global X Enhanced NASDAQ-100 Covered Call ETF | -0.47 | — | — | 85 | Nasdaq-100, Derivative Income | CFOD.TO vs QQCL.TO | |
| Global X NASDAQ-100 Covered Call ETF | -0.46 | -0.43 | -0.46 | 84 | Nasdaq-100, Derivative Income | CFOD.TO vs QQCC.TO |
See all 9 diversifiers for CFOD.TO
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Diversification Analysis
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