Looking to diversify beyond FEQT.NEO? The ETFs below have the lowest correlation with FEQT.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 FEQT.NEO.
Best Diversifiers for FEQT.NEO
5 ETFs have low correlation with FEQT.NEO (below 0.3), 0 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Franklin Growth ETF Portfolio | 0.15 | — | — | 94 | Diversified Portfolio | FEQT.NEO vs GRO.TO | |
| Fidelity Canadian Short Term Corporate Bond ETF | 0.17 | 0.08 | 0.07 | 51 | Corporate Bonds | FEQT.NEO vs FCSB.NEO | |
| BMO Laddered Preferred Share Index ETF | 0.20 | 0.24 | 0.29 | 97 | Preferred Stock/Convertible Bonds | FEQT.NEO vs ZPR.TO | |
| Return Stacked Global Balanced & Macro ETF | 0.21 | 0.21 | — | 88 | Multistrategy | FEQT.NEO vs RGBM.TO | |
| Fidelity Canadian Monthly High Income ETF | 0.27 | 0.21 | — | 95 | Canada Equities, Derivative Income | FEQT.NEO vs FCMI.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FEQT.NEO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FEQT.NEO and solid risk/return profiles. The least correlated is Aritzia Inc. (ATZ.TO) (Consumer Cyclical) with a 1Y correlation of 0.45, up from 0.29 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Aritzia Inc. | 0.45 | 0.29 | — | 93 | Consumer Cyclical | |
| Royal Bank of Canada | 0.53 | 0.51 | — | 99 | Financial Services |
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