Looking to diversify beyond COPP.TO? The ETFs below have the lowest correlation with COPP.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 COPP.TO.
Best Diversifiers for COPP.TO
5 ETFs have low correlation with COPP.TO (below 0.3), 4 of which are negatively correlated. The least correlated is Ninepoint Energy ETF (NNRG.NEO) (Energy Equities) with a 1Y correlation of -0.07, down from 0.20 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Ninepoint Energy ETF | -0.07 | 0.20 | — | 79 | Energy Equities | COPP.TO vs NNRG.NEO | |
| Global X High Interest Savings ETF | -0.04 | -0.02 | — | 100 | Money Market | COPP.TO vs CASH.TO | |
| Global X 0-3 Month T-Bill ETF | -0.04 | 0.04 | — | 99 | Canadian Government Bonds | COPP.TO vs CBIL.TO | |
| Global X Cash Maximizer Corporate Class ETF | -0.01 | -0.02 | — | 66 | Bank Loan | COPP.TO vs HSAV.TO | |
| Global X Equal Weight Canadian Oil & Gas Index ETF | 0.01 | — | — | 89 | Commodity Producers Equities | COPP.TO vs NRGY.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from COPP.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to COPP.TO and solid risk/return profiles. The least correlated is Cameco Corporation (CCO.TO) (Energy) with a 1Y correlation of 0.49, up from 0.38 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cameco Corporation | 0.49 | 0.38 | — | 84 | Energy |
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