Looking to diversify beyond FCMO.NEO? The ETFs below have the lowest correlation with FCMO.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 FCMO.NEO.
Best Diversifiers for FCMO.NEO
2 ETFs have low correlation with FCMO.NEO (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Canadian Short Term Corporate Bond ETF (FCSB.NEO) (Corporate Bonds) with a 1Y correlation of 0.08, roughly unchanged from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Canadian Short Term Corporate Bond ETF | 0.08 | 0.05 | 0.06 | 51 | Corporate Bonds | FCMO.NEO vs FCSB.NEO | |
| Fidelity Canadian Monthly High Income ETF | 0.11 | 0.13 | 0.12 | 95 | Canada Equities, Derivative Income | FCMO.NEO vs FCMI.TO | |
| Fidelity Global Monthly High Income ETF | 0.32 | 0.24 | 0.23 | 93 | Global Allocation | FCMO.NEO vs FCGI.TO | |
| CI Morningstar International Momentum Index ETF Co... | 0.33 | 0.25 | 0.28 | 83 | Momentum, Foreign Large Cap Equities | FCMO.NEO vs ZXM.TO | |
| Fidelity International Low Volatility ETF | 0.33 | 0.26 | 0.25 | 57 | Foreign Large Cap Equities | FCMO.NEO vs FCIL.NEO |
See all 41 diversifiers for FCMO.NEO
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