Looking to diversify beyond DXN.TO? The ETFs below have the lowest correlation with DXN.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 DXN.TO.
Best Diversifiers for DXN.TO
8 ETFs have low correlation with DXN.TO (below 0.3), 1 of which are negatively correlated. The least correlated is Dynamic Active Preferred Shares ETF (DXP.TO) (Preferred Stock/Convertible Bonds) with a 1Y correlation of -0.01, roughly unchanged from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Dynamic Active Preferred Shares ETF | -0.01 | 0.04 | 0.07 | 96 | Preferred Stock/Convertible Bonds | DXN.TO vs DXP.TO | |
| Dynamic Active Enhanced Yield Covered Options ETF | 0.08 | 0.10 | — | 68 | Derivative Income | DXN.TO vs DXQ.TO | |
| Dynamic Active Tactical Bond ETF | 0.14 | 0.16 | 0.15 | 53 | Tactical Allocation | DXN.TO vs DXB.TO | |
| Dynamic Active Crossover Bond ETF | 0.18 | 0.16 | 0.21 | 68 | Corporate Bonds, High Yield Bonds | DXN.TO vs DXO.TO | |
| Dynamic Active U.S. Dividend ETF | 0.23 | 0.14 | 0.20 | 59 | Dividend | DXN.TO vs DXU.TO |
See all 9 diversifiers for DXN.TO
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Diversification Analysis
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