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Dollarama Inc. (DOL.TO) Diversifiers

Equity · Currency in CAD · Last updated Jul 17, 2026

Dollarama Inc. is Canada's largest dollar store chain, operating more than 1,500 stores across all ten provinces. The company sells general merchandise, consumables, and seasonal items at low fixed price points, and also holds a majority stake in Latin American value retailer Dollarcity. Headquartered in Montreal, Dollarama went public on the Toronto Stock Exchange in October 2009.

Looking to balance out your exposure to DOL.TO? The ETFs below have the lowest correlation with DOL.TO — they tend to move on their own, which can help reduce risk when DOL.TO drops. The stock ideas table highlights individual companies that behave independently from DOL.TO.

Best Diversifiers for DOL.TO

57 ETFs have low correlation with DOL.TO (below 0.3), 2 of which are negatively correlated.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
XCHP.TO
iShares Semiconductor Index ETF-0.02——
92
Semiconductors, Technology EquitiesDOL.TO vs XCHP.TO
CHPS.TO
Global X Artificial Intelligence Semiconductor Ind...-0.010.060.13
85
Semiconductors, Technology EquitiesDOL.TO vs CHPS.TO
CASH.TO
Global X High Interest Savings ETF0.010.04—
100
Money MarketDOL.TO vs CASH.TO
BND.TO
Purpose Global Bond Fund0.020.090.09
51
Global BondsDOL.TO vs BND.TO
ZNQ.TO
BMO NASDAQ 100 Equity Index ETF0.030.110.19
59
Nasdaq-100DOL.TO vs ZNQ.TO
See all 63 diversifiers for DOL.TO

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from DOL.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to DOL.TO and solid risk/return profiles. The least correlated is Hammond Power Solutions Inc (HPS-A.TO) (Industrials) with a 1Y correlation of -0.15, down from 0.06 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
HPS-A.TO
Hammond Power Solutions Inc-0.150.020.06
90
Industrials
ARX.TO
ARC Resources Ltd.-0.090.060.06
66
Energy
BTE.TO
Baytex Energy Corp.-0.06-0.010.00
95
Energy
CNQ.TO
Canadian Natural Resources Limited-0.040.050.06
84
Energy
CEU.TO
CES Energy Solutions Corp.-0.020.020.03
97
Energy
See all 59 low-correlation stocks for DOL.TO

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Diversification Analysis

Build a portfolio that complements DOL.TO

Add DOL.TO to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.

Analyze a portfolio with DOL.TO