Looking to diversify beyond FLVI.NEO? The ETFs below have the lowest correlation with FLVI.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 FLVI.NEO.
Best Diversifiers for FLVI.NEO
3 ETFs have low correlation with FLVI.NEO (below 0.3), 0 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X High Interest Savings ETF | 0.03 | — | — | 99 | Money Market | FLVI.NEO vs CASH.TO | |
| Franklin Growth ETF Portfolio | 0.08 | — | — | 93 | Diversified Portfolio | FLVI.NEO vs GRO.TO | |
| Mackenzie International Equity Index ETF (CAD-Hedg... | 0.15 | — | — | 80 | International Equity | FLVI.NEO vs QDXH.TO | |
| BMO Low Volatility Canadian Equity ETF | 0.33 | — | — | 57 | Canada Equities | FLVI.NEO vs ZLB.TO | |
| iShares Core MSCI Canadian Quality Dividend Index ... | 0.35 | — | — | 98 | Dividend, Large Cap Value Equities | FLVI.NEO vs XDIV.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FLVI.NEO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FLVI.NEO and solid risk/return profiles. The least correlated is Canadian Natural Resources Limited (CNQ.TO) (Energy) with a 1Y correlation of -0.01, roughly unchanged from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Canadian Natural Resources Limited | -0.01 | 0.07 | 0.07 | 77 | Energy | |
| Loblaw Companies Limited | 0.05 | 0.10 | 0.10 | 67 | Consumer Defensive | |
| Fortis Inc. | 0.15 | — | — | 93 | Utilities | |
| Extendicare Inc. | 0.16 | — | — | 99 | Healthcare | |
| Toromont Industries Ltd. | 0.17 | 0.16 | 0.16 | 97 | Industrials |
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