Looking to balance out your exposure to CJ.TO? The ETFs below have the lowest correlation with CJ.TO — they tend to move on their own, which can help reduce risk when CJ.TO drops. The stock ideas table highlights individual companies that behave independently from CJ.TO.
Best Diversifiers for CJ.TO
0 ETFs have low correlation with CJ.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 0.44, roughly unchanged from 0.54 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 | 0.44 | 0.47 | 0.54 | 98 | Canada Equities | CJ.TO vs XEI.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CJ.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CJ.TO and solid risk/return profiles. The least correlated is The Bank of Nova Scotia (BNS.TO) (Financial Services) with a 1Y correlation of -0.18, down from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Bank of Nova Scotia | -0.18 | 0.08 | 0.19 | 96 | Financial Services | |
| SmartCentres Real Estate Investment Trust | -0.10 | 0.11 | 0.19 | 82 | Real Estate | |
| Valeura Energy Inc. | 0.52 | 0.47 | 0.35 | 72 | Energy | |
| Canadian Natural Resources Limited | 0.68 | 0.71 | 0.70 | 86 | Energy | |
| Tamarack Valley Energy Ltd. | 0.70 | 0.73 | 0.73 | 99 | Energy |
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