Looking to diversify beyond DIVS.TO? The ETFs below have the lowest correlation with DIVS.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 DIVS.TO.
Best Diversifiers for DIVS.TO
6 ETFs have low correlation with DIVS.TO (below 0.3), 1 of which are negatively correlated. The least correlated is Global X Canadian Oil and Gas Equity Covered Call ETF (ENCC.TO) (Derivative Income) with a 1Y correlation of -0.00, down from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X Canadian Oil and Gas Equity Covered Call ... | -0.00 | 0.05 | 0.10 | 85 | Derivative Income, Energy Equities | DIVS.TO vs ENCC.TO | |
| BMO S&P 500 Index ETF | 0.04 | 0.13 | 0.14 | 72 | S&P 500 | DIVS.TO vs ZSP.TO | |
| Vanguard FTSE Canada All Cap Index ETF | 0.07 | 0.13 | 0.16 | 77 | Canada Equities | DIVS.TO vs VCN.TO | |
| iShares Core Equity ETF Portfolio | 0.07 | 0.13 | 0.16 | 75 | Global Equities | DIVS.TO vs XEQT.TO | |
| iShares Core MSCI Canadian Quality Dividend Index ... | 0.12 | 0.11 | 0.15 | 98 | Dividend, Large Cap Value Equities | DIVS.TO vs XDIV.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from DIVS.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to DIVS.TO and solid risk/return profiles. The least correlated is Whitecap Resources Inc. (WCP.TO) (Energy) with a 1Y correlation of -0.07, down from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Whitecap Resources Inc. | -0.07 | 0.02 | 0.10 | 96 | Energy |
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