Looking to balance out your exposure to DIR-UN.TO? The ETFs below have the lowest correlation with DIR-UN.TO — they tend to move on their own, which can help reduce risk when DIR-UN.TO drops. The stock ideas table highlights individual companies that behave independently from DIR-UN.TO.
Best Diversifiers for DIR-UN.TO
2 ETFs have low correlation with DIR-UN.TO (below 0.3), 0 of which are negatively correlated. The least correlated is BMO NASDAQ 100 Equity (CAD Hedged) (ZQQ.TO) (Nasdaq-100) with a 1Y correlation of 0.27, roughly unchanged from 0.36 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BMO NASDAQ 100 Equity (CAD Hedged) | 0.27 | 0.32 | 0.36 | 67 | Nasdaq-100 | DIR-UN.TO vs ZQQ.TO | |
| Vanguard U.S. Dividend Appreciation Index ETF | 0.27 | 0.35 | 0.36 | 59 | Dividend, Large Cap Blend Equities | DIR-UN.TO vs VGG.TO | |
| Vanguard S&P 500 Index ETF | 0.30 | 0.34 | 0.36 | 74 | S&P 500 | DIR-UN.TO vs VFV.TO | |
| Vanguard FTSE Canadian High Dividend Yield Index E... | 0.31 | 0.44 | 0.44 | 98 | Dividend | DIR-UN.TO vs VDY.TO | |
| iShares Core Equity ETF Portfolio | 0.38 | 0.47 | 0.48 | 75 | Global Equities | DIR-UN.TO vs XEQT.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from DIR-UN.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to DIR-UN.TO and solid risk/return profiles. The least correlated is Peyto Exploration & Development Corp. (PEY.TO) (Energy) with a 1Y correlation of -0.10, down from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Peyto Exploration & Development Corp. | -0.10 | 0.09 | 0.14 | 77 | Energy | |
| AltaGas Ltd. | -0.01 | 0.12 | 0.22 | 92 | Utilities | |
| Emera Incorporated | 0.08 | 0.23 | 0.23 | 79 | Utilities | |
| TC Energy Corporation | 0.09 | 0.22 | 0.24 | 89 | Energy | |
| Enbridge Inc. | 0.10 | 0.24 | 0.27 | 81 | Energy |
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