Looking to balance out your exposure to ENGH.TO? The ETFs below have the lowest correlation with ENGH.TO — they tend to move on their own, which can help reduce risk when ENGH.TO drops. The stock ideas table highlights individual companies that behave independently from ENGH.TO.
Best Diversifiers for ENGH.TO
2 ETFs have low correlation with ENGH.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.TO) (Dividend) with a 1Y correlation of 0.12, roughly unchanged from 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard FTSE Canadian High Dividend Yield Index E... | 0.12 | 0.18 | 0.21 | 98 | Dividend | ENGH.TO vs VDY.TO | |
| Vanguard S&P 500 Index ETF | 0.21 | 0.31 | 0.35 | 74 | S&P 500 | ENGH.TO vs VFV.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ENGH.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ENGH.TO and solid risk/return profiles. The least correlated is 5N Plus Inc. (VNP.TO) (Basic Materials) with a 1Y correlation of 0.08, down from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| 5N Plus Inc. | 0.08 | 0.17 | 0.20 | 99 | Basic Materials |
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