Looking to balance out your exposure to FVI.TO? The ETFs below have the lowest correlation with FVI.TO — they tend to move on their own, which can help reduce risk when FVI.TO drops. The stock ideas table highlights individual companies that behave independently from FVI.TO.
Best Diversifiers for FVI.TO
2 ETFs have low correlation with FVI.TO (below 0.3), 1 of which are negatively correlated. The least correlated is iShares S&P/TSX Capped Energy Index ETF (XEG.TO) (Energy Equities) with a 1Y correlation of -0.05, down from 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares S&P/TSX Capped Energy Index ETF | -0.05 | 0.13 | 0.21 | 86 | Energy Equities | FVI.TO vs XEG.TO | |
| TD U.S. Equity Index ETF | 0.27 | 0.17 | 0.13 | 73 | Large Cap Blend Equities | FVI.TO vs TPU.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FVI.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FVI.TO and solid risk/return profiles. The least correlated is Paramount Resources Ltd. (POU.TO) (Energy) with a 1Y correlation of -0.08, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Paramount Resources Ltd. | -0.08 | 0.09 | 0.18 | 85 | Energy | |
| Tamarack Valley Energy Ltd. | 0.06 | 0.18 | 0.22 | 99 | Energy | |
| MDA Space Ltd. | 0.15 | 0.15 | 0.15 | 75 | Industrials | |
| Celestica Inc. | 0.22 | 0.18 | 0.19 | 94 | Technology | |
| Bombardier Inc | 0.25 | 0.18 | 0.17 | 98 | Industrials |
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