Looking to diversify beyond CMDO.TO? The ETFs below have the lowest correlation with CMDO.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 CMDO.TO.
Best Diversifiers for CMDO.TO
12 ETFs have low correlation with CMDO.TO (below 0.3), 1 of which are negatively correlated. The least correlated is PICTON Long Short Income Alternative Fund (PFIA.TO) (Long-Short) with a 1Y correlation of -0.06, roughly unchanged from 0.00 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PICTON Long Short Income Alternative Fund | -0.06 | 0.00 | — | 61 | Long-Short, Nontraditional Bonds | CMDO.TO vs PFIA.TO | |
| CI Alternative Investment Grade Credit Fund | 0.05 | 0.14 | — | 71 | Investment Grade Bonds, Long-Short, Nontraditional Bonds, Actively Managed | CMDO.TO vs CRED.TO | |
| iShares Flexible Monthly Income ETF CAD | 0.10 | — | — | 50 | High Yield Bonds | CMDO.TO vs XFLI.TO | |
| Purpose Credit Opportunities Fund | 0.13 | 0.18 | — | 96 | Nontraditional Bonds, Multisector Bonds | CMDO.TO vs CROP.TO | |
| Arrow EC Income Advantage Alternative Fund | 0.13 | 0.07 | — | 72 | Investment Grade Bonds, Corporate Bonds, Nontraditional Bonds | CMDO.TO vs RATE.TO |
See all 12 diversifiers for CMDO.TO
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