Looking to balance out your exposure to EFR.TO? The ETFs below have the lowest correlation with EFR.TO — they tend to move on their own, which can help reduce risk when EFR.TO drops. The stock ideas table highlights individual companies that behave independently from EFR.TO.
Best Diversifiers for EFR.TO
4 ETFs have low correlation with EFR.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard Global Value Factor ETF CAD (VVL.TO) (Global Equities) with a 1Y correlation of 0.08, down from 0.30 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Global Value Factor ETF CAD | 0.08 | 0.13 | 0.30 | 77 | Global Equities | EFR.TO vs VVL.TO | |
| Vanguard FTSE Developed All Cap ex North America I... | 0.16 | 0.18 | 0.30 | 62 | International Equity | EFR.TO vs VIU.TO | |
| Evolve Canadian Banks and Lifecos Enhanced Yield I... | 0.19 | 0.17 | 0.26 | 96 | Derivative Income | EFR.TO vs BANK.TO | |
| Vanguard FTSE Canadian High Dividend Yield Index E... | 0.19 | 0.22 | 0.32 | 98 | Dividend | EFR.TO vs VDY.TO | |
| Global X Artificial Intelligence Semiconductor Ind... | 0.30 | 0.28 | — | 94 | Semiconductors, Technology Equities | EFR.TO vs CHPS.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from EFR.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to EFR.TO and solid risk/return profiles. The least correlated is Loblaw Companies Limited (L.TO) (Consumer Defensive) with a 1Y correlation of -0.12, down from -0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Loblaw Companies Limited | -0.12 | -0.03 | -0.01 | 54 | Consumer Defensive | |
| Enbridge Inc. | -0.10 | 0.05 | 0.17 | 81 | Energy | |
| Paramount Resources Ltd. | 0.01 | 0.15 | 0.28 | 85 | Energy | |
| Tamarack Valley Energy Ltd. | 0.07 | 0.18 | 0.29 | 99 | Energy | |
| Power Corporation of Canada | 0.08 | 0.09 | 0.18 | 94 | Financial Services |
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