Looking to diversify beyond DXMO.TO? The ETFs below have the lowest correlation with DXMO.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 DXMO.TO.
Best Diversifiers for DXMO.TO
7 ETFs have low correlation with DXMO.TO (below 0.3), 2 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PIMCO Monthly Income Fund (Canada) | -0.07 | — | — | 57 | Multisector Bonds | DXMO.TO vs PMIF-U.TO | |
| Ninepoint Energy ETF | -0.02 | — | — | 79 | Energy Equities | DXMO.TO vs NNRG.NEO | |
| iShares S&P/TSX Composite High Dividend Index ETF | 0.20 | 0.20 | 0.20 | 98 | Canada Equities | DXMO.TO vs XEI.TO | |
| PIMCO Monthly Income Fund (Canada) | 0.21 | — | — | 52 | DXMO.TO vs PMIF.TO | ||
| iShares Core Canadian Short Term Corporate Bond In... | 0.23 | — | — | 53 | Canadian Government Bonds | DXMO.TO vs XSH.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from DXMO.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to DXMO.TO and solid risk/return profiles. The least correlated is Pembina Pipeline Corporation (PPL.TO) (Energy) with a 1Y correlation of -0.05, roughly unchanged from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Pembina Pipeline Corporation | -0.05 | 0.04 | 0.04 | 83 | Energy | |
| Capital Power Corporation | 0.29 | — | — | 68 | Utilities |
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