Looking to diversify beyond CRQ.NEO? The ETFs below have the lowest correlation with CRQ.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 CRQ.NEO.
Best Diversifiers for CRQ.NEO
2 ETFs have low correlation with CRQ.NEO (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Canadian Monthly High Income ETF (FCMI.TO) (Canada Equities) with a 1Y correlation of 0.22, roughly unchanged from 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Canadian Monthly High Income ETF | 0.22 | 0.21 | 0.21 | 96 | Canada Equities, Derivative Income | CRQ.NEO vs FCMI.TO | |
| iShares S&P/TSX Capped Energy Index ETF | 0.22 | 0.39 | 0.51 | 85 | Energy Equities, Canada Equities | CRQ.NEO vs XEG.TO | |
| iShares Core S&P 500 Index ETF | 0.34 | 0.41 | 0.41 | 74 | S&P 500 | CRQ.NEO vs XUS.TO | |
| iShares Core MSCI Emerging Markets IMI Index ETF | 0.34 | 0.39 | 0.38 | 63 | Emerging Markets Equities | CRQ.NEO vs XEC.TO | |
| iShares Emerging Markets Fundamental Index ETF | 0.35 | 0.31 | 0.29 | 62 | Emerging Markets Equities | CRQ.NEO vs CWO.NEO |
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