Looking to diversify beyond ETHR.TO? The ETFs below have the lowest correlation with ETHR.TO — 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 ETHR.TO.
Best Diversifiers for ETHR.TO
3 ETFs have low correlation with ETHR.TO (below 0.3), 2 of which are negatively correlated. The least correlated is Evolve Canadian Utilities Enhanced Yield Index Fund ETF (UTES.TO) (Derivative Income) with a 1Y correlation of -0.09, roughly unchanged from -0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Evolve Canadian Utilities Enhanced Yield Index Fun... | -0.09 | -0.03 | -0.03 | 75 | Derivative Income | ETHR.TO vs UTES.TO | |
| Evolve Canadian Energy Enhanced Yield Index Fund E... | -0.01 | — | — | 77 | Energy Equities | ETHR.TO vs OILY.TO | |
| Evolve Canadian Banks and Lifecos Enhanced Yield I... | 0.29 | 0.26 | — | 96 | Derivative Income | ETHR.TO vs BANK.TO | |
| Evolve NASDAQ Technology Index Fund CAD Hedged | 0.50 | — | — | 82 | Nasdaq-100, Technology Equities | ETHR.TO vs QQQT.TO | |
| Evolve NASDAQ Technology Enhanced Yield Index Fund | 0.50 | 0.40 | 0.40 | 77 | Nasdaq-100, Derivative Income | ETHR.TO vs QQQY.TO |
Diversification Analysis
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