Looking to balance out your exposure to CM.TO? The ETFs below have the lowest correlation with CM.TO — they tend to move on their own, which can help reduce risk when CM.TO drops. The stock ideas table highlights individual companies that behave independently from CM.TO.
Best Diversifiers for CM.TO
1 ETFs have low correlation with CM.TO (below 0.3), 0 of which are negatively correlated. The least correlated is BMO Money Market Fund ETF Series (ZMMK.TO) (Money Market) with a 1Y correlation of 0.08, roughly unchanged from 0.04 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BMO Money Market Fund ETF Series | 0.08 | 0.04 | — | 100 | Money Market | CM.TO vs ZMMK.TO | |
| iShares Core MSCI Canadian Quality Dividend Index ... | 0.36 | 0.52 | 0.62 | 98 | Dividend, Large Cap Value Equities | CM.TO vs XDIV.TO | |
| iShares S&P/TSX Composite High Dividend Index ETF | 0.38 | 0.54 | 0.61 | 98 | Canada Equities | CM.TO vs XEI.TO | |
| Global X S&P 500 Index Corporate Class ETF | 0.42 | 0.41 | 0.43 | 71 | S&P 500 | CM.TO vs HXS.TO | |
| BMO S&P 500 Index ETF | 0.43 | 0.42 | 0.43 | 72 | S&P 500 | CM.TO vs ZSP.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CM.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CM.TO and solid risk/return profiles. The least correlated is AltaGas Ltd. (ALA.TO) (Utilities) with a 1Y correlation of -0.18, down from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AltaGas Ltd. | -0.18 | 0.16 | 0.22 | 92 | Utilities | |
| Gibson Energy Inc. | -0.14 | 0.11 | 0.21 | 78 | Energy | |
| Canadian Natural Resources Limited | -0.13 | 0.09 | 0.22 | 86 | Energy | |
| Emera Incorporated | -0.12 | 0.14 | 0.12 | 79 | Utilities | |
| Canadian Utilities Limited | -0.10 | 0.20 | 0.18 | 93 | Utilities |
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Build a portfolio that complements CM.TO
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