Looking to balance out your exposure to ELD.TO? The ETFs below have the lowest correlation with ELD.TO — they tend to move on their own, which can help reduce risk when ELD.TO drops. The stock ideas table highlights individual companies that behave independently from ELD.TO.
No Diversifiers Found for ELD.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 ELD.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ELD.TO and solid risk/return profiles. The least correlated is Paramount Resources Ltd. (POU.TO) (Energy) with a 1Y correlation of -0.07, down from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Paramount Resources Ltd. | -0.07 | 0.10 | 0.17 | 86 | Energy | |
| Tamarack Valley Energy Ltd. | 0.04 | 0.15 | 0.19 | 99 | Energy | |
| MDA Space Ltd. | 0.15 | 0.14 | 0.13 | 76 | Industrials | |
| Bombardier Inc | 0.20 | 0.14 | 0.14 | 98 | Industrials | |
| Celestica Inc. | 0.22 | 0.14 | 0.16 | 94 | Technology |
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