Looking to balance out your exposure to CHP-UN.TO? The ETFs below have the lowest correlation with CHP-UN.TO — they tend to move on their own, which can help reduce risk when CHP-UN.TO drops. The stock ideas table highlights individual companies that behave independently from CHP-UN.TO.
Best Diversifiers for CHP-UN.TO
0 ETFs have low correlation with CHP-UN.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.TO) (Dividend) with a 1Y correlation of 0.35, down from 0.46 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard FTSE Canadian High Dividend Yield Index E... | 0.35 | 0.44 | 0.46 | 98 | Dividend | CHP-UN.TO vs VDY.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CHP-UN.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CHP-UN.TO and solid risk/return profiles. The least correlated is Great-West Lifeco Inc. (GWO.TO) (Financial Services) with a 1Y correlation of 0.15, down from 0.28 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Great-West Lifeco Inc. | 0.15 | 0.22 | 0.28 | 95 | Financial Services | |
| Crombie Real Estate Investment Trust | 0.67 | 0.67 | 0.69 | 84 | Real Estate | |
| SmartCentres Real Estate Investment Trust | 0.71 | 0.72 | 0.72 | 84 | Real Estate |
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