Looking to balance out your exposure to EMA.TO? The ETFs below have the lowest correlation with EMA.TO — they tend to move on their own, which can help reduce risk when EMA.TO drops. The stock ideas table highlights individual companies that behave independently from EMA.TO.
Best Diversifiers for EMA.TO
8 ETFs have low correlation with EMA.TO (below 0.3), 6 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 -0.17, down from 0.02 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Hamilton Enhanced U.S. Covered Call ETF | -0.17 | 0.02 | — | 77 | Derivative Income | EMA.TO vs HYLD.TO | |
| Global X S&P 500 Index Corporate Class ETF | -0.16 | 0.00 | 0.06 | 75 | S&P 500 | EMA.TO vs HXS.TO | |
| Vanguard S&P 500 Index ETF | -0.16 | 0.01 | 0.07 | 78 | S&P 500 | EMA.TO vs VFV.TO | |
| iShares Core MSCI All Country World ex Canada Inde... | -0.13 | 0.06 | 0.10 | 80 | Global Equities | EMA.TO vs XAW.TO | |
| Hamilton Enhanced Canadian Covered Call ETF | -0.08 | 0.19 | — | 93 | Derivative Income | EMA.TO vs HDIV.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from EMA.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to EMA.TO and solid risk/return profiles. The least correlated is Brookfield Corporation (BN.TO) (Financial Services) with a 1Y correlation of -0.24, down from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Brookfield Corporation | -0.24 | 0.11 | 0.13 | 60 | Financial Services | |
| Royal Bank of Canada | -0.14 | 0.16 | 0.12 | 97 | Financial Services | |
| The Toronto-Dominion Bank | -0.12 | 0.12 | 0.08 | 98 | Financial Services | |
| Canadian Imperial Bank of Commerce | -0.12 | 0.14 | 0.12 | 97 | Financial Services | |
| Mullen Group Ltd. | -0.12 | -0.01 | -0.01 | 95 | Industrials |
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