Looking to balance out your exposure to CNC.V? The ETFs below have the lowest correlation with CNC.V — they tend to move on their own, which can help reduce risk when CNC.V drops. The stock ideas table highlights individual companies that behave independently from CNC.V.
Best Diversifiers for CNC.V
0 ETFs have low correlation with CNC.V (below 0.3), 0 of which are negatively correlated. The least correlated is iShares S&P/TSX 60 Index ETF (XIU.TO) (Canada Equities) with a 1Y correlation of 0.31, roughly unchanged from 0.27 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares S&P/TSX 60 Index ETF | 0.31 | 0.29 | 0.27 | 87 | Canada Equities | CNC.V vs XIU.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CNC.V, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CNC.V and solid risk/return profiles. The least correlated is National Bank of Canada (NA.TO) (Financial Services) with a 1Y correlation of 0.10, roughly unchanged from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| National Bank of Canada | 0.10 | 0.12 | 0.15 | 96 | Financial Services | |
| Royal Bank of Canada | 0.15 | 0.17 | 0.16 | 97 | Financial Services | |
| Bank of Montreal | 0.18 | 0.20 | 0.18 | 95 | Financial Services | |
| Dividend 15 Split Corp. | 0.21 | 0.20 | 0.18 | 96 | Financial Services | |
| The Toronto-Dominion Bank | 0.22 | 0.22 | 0.17 | 98 | Financial Services |
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