Looking to diversify beyond FIG.TO? The ETFs below have the lowest correlation with FIG.TO — 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 FIG.TO.
Best Diversifiers for FIG.TO
2 ETFs have low correlation with FIG.TO (below 0.3), 0 of which are negatively correlated. The least correlated is CI Canadian Banks Covered Call Income Class ETF (CIC.TO) (Financials Equities) with a 1Y correlation of 0.17, roughly unchanged from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| CI Canadian Banks Covered Call Income Class ETF | 0.17 | 0.17 | 0.08 | 97 | Financials Equities | FIG.TO vs CIC.TO | |
| Fidelity Canadian Short Term Corporate Bond ETF | 0.28 | 0.27 | 0.30 | 51 | Corporate Bonds | FIG.TO vs FCSB.NEO | |
| BMO Mid-Term US Investment Grade Corporate Bond In... | 0.31 | 0.45 | 0.42 | 52 | Corporate Bonds | FIG.TO vs ZIC.TO | |
| BMO High Quality Corporate Bond Index ETF | 0.43 | 0.44 | 0.39 | 58 | Corporate Bonds | FIG.TO vs ZQB.TO | |
| iShares Canadian HYBrid Corporate Bond Index ETF | 0.55 | 0.58 | 0.56 | 52 | Corporate Bonds | FIG.TO vs XHB.TO |
Diversification Analysis
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