Looking to diversify beyond EMCL.NEO? The ETFs below have the lowest correlation with EMCL.NEO — 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 EMCL.NEO.
Best Diversifiers for EMCL.NEO
14 ETFs have low correlation with EMCL.NEO (below 0.3), 6 of which are negatively correlated. The least correlated is Global X Enhanced Canadian Oil and Gas Equity Covered Call ETF CAD (ENCL.TO) (Oil & Gas) with a 1Y correlation of -0.11, down from 0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X Enhanced Canadian Oil and Gas Equity Cove... | -0.11 | 0.03 | 0.03 | 85 | Oil & Gas, Derivative Income | EMCL.NEO vs ENCL.TO | |
| Global X Canadian Oil and Gas Equity Covered Call ... | -0.11 | — | — | 85 | Derivative Income, Energy Equities | EMCL.NEO vs ENCC.TO | |
| CI Energy Giants Covered Call ETF Common Units (CA... | -0.10 | — | — | 73 | Energy Equities, Derivative Income | EMCL.NEO vs NXF.TO | |
| Hamilton Energy YIELD MAXIMIZER ETF | -0.08 | 0.02 | 0.02 | 70 | Energy Equities, Derivative Income | EMCL.NEO vs EMAX.TO | |
| Evolve Canadian Utilities Enhanced Yield Index Fun... | -0.05 | -0.01 | -0.01 | 75 | Derivative Income | EMCL.NEO vs UTES.TO |
See all 37 diversifiers for EMCL.NEO
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