Looking to balance out your exposure to GEI.TO? The ETFs below have the lowest correlation with GEI.TO — they tend to move on their own, which can help reduce risk when GEI.TO drops. The stock ideas table highlights individual companies that behave independently from GEI.TO.
Best Diversifiers for GEI.TO
3 ETFs have low correlation with GEI.TO (below 0.3), 2 of which are negatively correlated. The least correlated is iShares Canadian Financial Monthly Income ETF (FIE.TO) (Canada Equities) with a 1Y correlation of -0.11, down from 0.26 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Canadian Financial Monthly Income ETF | -0.11 | 0.13 | 0.26 | 87 | Canada Equities | GEI.TO vs FIE.TO | |
| Hamilton Canadian Financials Yield Maximizer ETF | -0.10 | 0.16 | — | 94 | Derivative Income | GEI.TO vs HMAX.TO | |
| iShares S&P/TSX 60 Index ETF | 0.02 | 0.26 | 0.37 | 85 | Canada Equities | GEI.TO vs XIU.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from GEI.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to GEI.TO and solid risk/return profiles. The least correlated is Canadian Imperial Bank of Commerce (CM.TO) (Financial Services) with a 1Y correlation of -0.12, down from 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Canadian Imperial Bank of Commerce | -0.12 | 0.11 | 0.21 | 97 | Financial Services | |
| Manulife Financial Corporation | -0.10 | 0.14 | 0.24 | 77 | Financial Services | |
| Royal Bank of Canada | -0.06 | 0.13 | 0.22 | 98 | Financial Services | |
| National Bank of Canada | -0.06 | 0.10 | 0.20 | 97 | Financial Services | |
| Emera Incorporated | -0.00 | 0.12 | 0.13 | 86 | Utilities |
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