Looking to balance out your exposure to FNV.TO? The ETFs below have the lowest correlation with FNV.TO — they tend to move on their own, which can help reduce risk when FNV.TO drops. The stock ideas table highlights individual companies that behave independently from FNV.TO.
No Diversifiers Found for FNV.TO
We do not have enough correlation history to rank diversifiers for this symbol yet.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FNV.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FNV.TO and solid risk/return profiles. The least correlated is Canadian Natural Resources Limited (CNQ.TO) (Energy) with a 1Y correlation of -0.02, down from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Canadian Natural Resources Limited | -0.02 | 0.14 | 0.15 | 86 | Energy | |
| George Weston Limited | 0.03 | 0.11 | 0.11 | 67 | Consumer Defensive | |
| Richelieu Hardware Ltd. | 0.08 | 0.16 | 0.15 | 61 | Consumer Cyclical | |
| Power Corporation of Canada | 0.10 | 0.11 | 0.13 | 95 | Financial Services | |
| Alimentation Couche-Tard Inc. | 0.10 | 0.08 | 0.10 | 62 | Consumer Cyclical |
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