Looking to diversify beyond CWO.NEO? The ETFs below have historically moved differently from CWO.NEO, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for CWO.NEO
3 ETFs have low correlation with CWO.NEO (below 0.3), 1 of which are negatively correlated. The least correlated is Global X High Interest Savings ETF (CASH.TO) (Money Market) with a 1Y correlation of -0.06, roughly unchanged from 0.01 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X High Interest Savings ETF | -0.06 | -0.01 | 0.01 | 100 | Money Market | CWO.NEO vs CASH.TO | |
| iShares S&P/TSX Composite High Dividend Index ETF | 0.16 | 0.26 | 0.26 | 98 | Canada Equities | CWO.NEO vs XEI.TO | |
| iShares Core MSCI Canadian Quality Dividend Index ... | 0.23 | 0.26 | 0.27 | 98 | Quality Factor, Dividend, Large Cap Value Equities | CWO.NEO vs XDIV.TO | |
| iShares Canadian Fundamental Index ETF | 0.36 | 0.32 | 0.29 | 97 | Canada Equities | CWO.NEO vs CRQ.NEO | |
| iShares S&P/TSX 60 Index ETF | 0.44 | 0.36 | 0.33 | 93 | Canada Equities | CWO.NEO vs XIU.TO |
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