Looking to balance out your exposure to EMA.TO? The ETFs below have historically moved differently from EMA.TO, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for EMA.TO
8 ETFs have low correlation with EMA.TO (below 0.3), 7 of which are negatively correlated. The least correlated is Hamilton Enhanced U.S. Covered Call ETF (HYLD.TO) (Derivative Income) with a 1Y correlation of -0.26, down from -0.02 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Hamilton Enhanced U.S. Covered Call ETF | -0.26 | -0.02 | — | 65 | Derivative Income | EMA.TO vs HYLD.TO | |
| Vanguard S&P 500 Index ETF | -0.23 | -0.03 | 0.05 | 70 | S&P 500 | EMA.TO vs VFV.TO | |
| Global X S&P 500 Index Corporate Class ETF | -0.23 | -0.04 | 0.04 | 67 | S&P 500 | EMA.TO vs HXS.TO | |
| iShares Core MSCI All Country World ex Canada Inde... | -0.20 | 0.02 | 0.08 | 78 | Global Equities | EMA.TO vs XAW.TO | |
| Hamilton Enhanced Canadian Covered Call ETF | -0.11 | 0.15 | 0.18 | 95 | Derivative Income | EMA.TO vs HDIV.TO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for EMA.TO, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Hammond Power Solutions Inc (HPS-A.TO) (Industrials) with a 1Y correlation of -0.32, down from -0.06 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Hammond Power Solutions Inc | -0.32 | -0.11 | -0.06 | 85 | Industrials | |
| Royal Bank of Canada | -0.19 | 0.13 | 0.11 | 99 | Financial Services | |
| Brookfield Corporation | -0.18 | 0.10 | 0.13 | 81 | Financial Services | |
| The Toronto-Dominion Bank | -0.15 | 0.09 | 0.07 | 99 | Financial Services | |
| Equitable Group Inc. | -0.15 | -0.01 | 0.00 | 82 | Financial Services |
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