Looking to diversify beyond FCIM.NEO? The ETFs below have the lowest correlation with FCIM.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 FCIM.NEO.
Best Diversifiers for FCIM.NEO
3 ETFs have low correlation with FCIM.NEO (below 0.3), 0 of which are negatively correlated. The least correlated is Mackenzie International Equity Index ETF (CAD-Hedged) (QDXH.TO) (International Equity) with a 1Y correlation of 0.23, roughly unchanged from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Mackenzie International Equity Index ETF (CAD-Hedg... | 0.23 | 0.27 | 0.24 | 82 | International Equity | FCIM.NEO vs QDXH.TO | |
| Fidelity Canadian Monthly High Income ETF | 0.24 | 0.18 | 0.16 | 95 | Canada Equities, Derivative Income | FCIM.NEO vs FCMI.TO | |
| Fidelity Canadian Short Term Corporate Bond ETF | 0.25 | 0.17 | 0.14 | 51 | Corporate Bonds | FCIM.NEO vs FCSB.NEO | |
| Fidelity Global Monthly High Income ETF | 0.30 | 0.20 | 0.21 | 93 | Global Allocation | FCIM.NEO vs FCGI.TO | |
| Brompton International Cash Flow Kings ETF | 0.31 | — | — | 92 | International Equity | FCIM.NEO vs KNGX.TO |
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