Looking to balance out your exposure to EMP-A.TO? The ETFs below have the lowest correlation with EMP-A.TO — they tend to move on their own, which can help reduce risk when EMP-A.TO drops. The stock ideas table highlights individual companies that behave independently from EMP-A.TO.
Best Diversifiers for EMP-A.TO
1 ETFs have low correlation with EMP-A.TO (below 0.3), 1 of which are negatively correlated. The least correlated is iShares Core MSCI EAFE IMI Index ETF (XEF-U.TO) (Global Equities) with a 1Y correlation of -0.05, roughly unchanged from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Core MSCI EAFE IMI Index ETF | -0.05 | 0.05 | 0.04 | 50 | Global Equities | EMP-A.TO vs XEF-U.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from EMP-A.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to EMP-A.TO and solid risk/return profiles. The least correlated is Magellan Aerospace Corporation (MAL.TO) (Industrials) with a 1Y correlation of -0.15, down from -0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Magellan Aerospace Corporation | -0.15 | -0.01 | -0.01 | 88 | Industrials | |
| Cameco Corporation | -0.14 | 0.00 | 0.01 | 52 | Energy | |
| Energy Fuels Inc. | -0.14 | -0.02 | -0.01 | 59 | Energy | |
| Dundee Precious Metals Inc. | -0.09 | -0.03 | 0.01 | 90 | Basic Materials | |
| Celestica Inc. | -0.09 | -0.04 | 0.01 | 81 | Technology |
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