Looking to balance out your exposure to FRU.TO? The ETFs below have the lowest correlation with FRU.TO — they tend to move on their own, which can help reduce risk when FRU.TO drops. The stock ideas table highlights individual companies that behave independently from FRU.TO.
Best Diversifiers for FRU.TO
2 ETFs have low correlation with FRU.TO (below 0.3), 1 of which are negatively correlated. The least correlated is iShares Canadian Financial Monthly Income ETF (FIE.TO) (Canada Equities) with a 1Y correlation of -0.05, down from 0.28 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Canadian Financial Monthly Income ETF | -0.05 | 0.14 | 0.28 | 93 | Canada Equities | FRU.TO vs FIE.TO | |
| Harvest Diversified Monthly Income ETF - Class A U... | 0.00 | 0.18 | — | 68 | Derivative Income | FRU.TO vs HDIF.TO | |
| Ninepoint Energy ETF | 0.65 | 0.70 | 0.78 | 79 | Energy Equities | FRU.TO vs NNRG.NEO | |
| Global X Canadian Oil and Gas Equity Covered Call ... | 0.73 | 0.70 | 0.76 | 85 | Derivative Income, Energy Equities | FRU.TO vs ENCC.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FRU.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FRU.TO and solid risk/return profiles. The least correlated is Power Corporation of Canada (POW.TO) (Financial Services) with a 1Y correlation of -0.21, down from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Power Corporation of Canada | -0.21 | -0.01 | 0.14 | 94 | Financial Services | |
| Alimentation Couche-Tard Inc. | -0.09 | -0.01 | 0.09 | 55 | Consumer Cyclical | |
| IAMGOLD Corporation | 0.02 | 0.09 | 0.17 | 85 | Basic Materials | |
| Enbridge Inc. | 0.20 | 0.26 | 0.40 | 81 | Energy | |
| AltaGas Ltd. | 0.25 | 0.21 | 0.27 | 92 | Utilities |
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