Looking to balance out your exposure to DML.TO? The ETFs below have the lowest correlation with DML.TO — they tend to move on their own, which can help reduce risk when DML.TO drops. The stock ideas table highlights individual companies that behave independently from DML.TO.
No Diversifiers Found for DML.TO
We do not have enough correlation history to rank diversifiers for this symbol yet.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from DML.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to DML.TO and solid risk/return profiles. The least correlated is Paramount Resources Ltd. (POU.TO) (Energy) with a 1Y correlation of -0.00, down from 0.29 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Paramount Resources Ltd. | -0.00 | 0.18 | 0.29 | 71 | Energy | |
| Tamarack Valley Energy Ltd. | 0.06 | 0.22 | 0.31 | 98 | Energy | |
| The Toronto-Dominion Bank | 0.26 | 0.13 | 0.19 | 99 | Financial Services | |
| Bombardier Inc | 0.31 | 0.22 | 0.29 | 97 | Industrials | |
| Celestica Inc. | 0.34 | 0.32 | 0.33 | 86 | Technology |
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