Looking to balance out your exposure to EQB.TO? The ETFs below have the lowest correlation with EQB.TO — they tend to move on their own, which can help reduce risk when EQB.TO drops. The stock ideas table highlights individual companies that behave independently from EQB.TO.
Best Diversifiers for EQB.TO
1 ETFs have low correlation with EQB.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Canadian Momentum Index ETF (FCCM.NEO) (Momentum) with a 1Y correlation of 0.25, roughly unchanged from 0.31 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Canadian Momentum Index ETF | 0.25 | 0.28 | 0.31 | 86 | Momentum, Canada Equities | EQB.TO vs FCCM.NEO | |
| Vanguard All-Equity ETF Portfolio | 0.35 | 0.39 | 0.44 | 84 | Global Equities | EQB.TO vs VEQT.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from EQB.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to EQB.TO and solid risk/return profiles. The least correlated is Tourmaline Oil Corp. (TOU.TO) (Energy) with a 1Y correlation of -0.21, down from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Tourmaline Oil Corp. | -0.21 | 0.01 | 0.08 | 51 | Energy | |
| Emera Incorporated | -0.19 | -0.01 | 0.00 | 92 | Utilities | |
| ARC Resources Ltd. | -0.18 | 0.03 | 0.11 | 67 | Energy | |
| Fortis Inc. | -0.13 | 0.02 | 0.02 | 94 | Utilities | |
| Enbridge Inc. | -0.13 | 0.07 | 0.17 | 91 | Energy |
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