Looking to diversify beyond FCIV.TO? The ETFs below have historically moved differently from FCIV.TO, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for FCIV.TO
3 ETFs have low correlation with FCIV.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Purpose High Interest Savings Fund (PSA.TO) (Money Market) with a 1Y correlation of 0.04, roughly unchanged from 0.04 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Purpose High Interest Savings Fund | 0.04 | 0.06 | 0.04 | 100 | Money Market | FCIV.TO vs PSA.TO | |
| Dynamic Active International Dividend ETF | 0.12 | 0.31 | 0.40 | 57 | Foreign Large Cap Equities, Dividend | FCIV.TO vs DXW.TO | |
| Mackenzie International Equity Index ETF (CAD-Hedg... | 0.28 | 0.28 | 0.25 | 81 | Foreign Large Cap Equities | FCIV.TO vs QDXH.TO | |
| Fidelity Canadian Monthly High Income ETF | 0.30 | 0.22 | 0.21 | 95 | Canada Equities, Derivative Income | FCIV.TO vs FCMI.TO | |
| Fidelity Global Monthly High Income ETF | 0.32 | 0.24 | 0.23 | 93 | Global Allocation | FCIV.TO vs FCGI.TO |
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