Looking to balance out your exposure to FDY.TO? The ETFs below have the lowest correlation with FDY.TO — they tend to move on their own, which can help reduce risk when FDY.TO drops. The stock ideas table highlights individual companies that behave independently from FDY.TO.
Best Diversifiers for FDY.TO
1 ETFs have low correlation with FDY.TO (below 0.3), 0 of which are negatively correlated. The least correlated is iShares Core MSCI EAFE IMI Index ETF (XEF.TO) (Foreign Large Cap Equities) with a 1Y correlation of 0.27, roughly unchanged from 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Core MSCI EAFE IMI Index ETF | 0.27 | 0.20 | 0.21 | 50 | Foreign Large Cap Equities | FDY.TO vs XEF.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FDY.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FDY.TO and solid risk/return profiles. The least correlated is Great-West Lifeco Inc. (GWO.TO) (Financial Services) with a 1Y correlation of -0.04, down from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Great-West Lifeco Inc. | -0.04 | 0.02 | 0.07 | 95 | Financial Services | |
| WELL Health Technologies Corp. | 0.21 | 0.14 | 0.11 | 58 | Healthcare | |
| Aritzia Inc. | 0.22 | 0.09 | 0.11 | 94 | Consumer Cyclical | |
| Hammond Power Solutions Inc | 0.31 | 0.16 | 0.12 | 94 | Industrials | |
| Lundin Gold Inc. | 0.33 | 0.22 | 0.22 | 59 | Basic Materials |
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