Looking to diversify beyond CJP.NEO? The ETFs below have the lowest correlation with CJP.NEO — 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 CJP.NEO.
Best Diversifiers for CJP.NEO
1 ETFs have low correlation with CJP.NEO (below 0.3), 0 of which are negatively correlated. The least correlated is iShares S&P/TSX Capped Energy Index ETF (XEG.TO) (Energy Equities) with a 1Y correlation of 0.07, down from 0.26 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares S&P/TSX Capped Energy Index ETF | 0.07 | 0.20 | 0.26 | 86 | Energy Equities | CJP.NEO vs XEG.TO | |
| iShares S&P/TSX Global Base Metals Index ETF | 0.39 | 0.35 | 0.36 | 85 | Energy Equities | CJP.NEO vs XBM.TO | |
| BMO NASDAQ 100 Equity Index ETF | 0.40 | 0.41 | 0.38 | 74 | Nasdaq-100 | CJP.NEO vs ZNQ.TO | |
| iShares Equal Weight Banc & Lifeco ETF | 0.41 | 0.41 | 0.45 | 94 | Financials Equities | CJP.NEO vs CEW.TO | |
| iShares Emerging Markets Fundamental Index ETF | 0.41 | 0.30 | 0.27 | 68 | Emerging Markets Equities | CJP.NEO vs CWO.NEO |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CJP.NEO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CJP.NEO and solid risk/return profiles. The least correlated is AGF Management Ltd (AGF-B.TO) (Financial Services) with a 1Y correlation of 0.32, roughly unchanged from 0.29 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AGF Management Ltd | 0.32 | 0.28 | 0.29 | 76 | Financial Services |
Build a portfolio that complements CJP.NEO
Add CJP.NEO to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with CJP.NEO