Looking to balance out your exposure to GOOG.TO? The ETFs below have the lowest correlation with GOOG.TO — they tend to move on their own, which can help reduce risk when GOOG.TO drops. The stock ideas table highlights individual companies that behave independently from GOOG.TO.
Best Diversifiers for GOOG.TO
2 ETFs have low correlation with GOOG.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.TO) (Dividend) with a 1Y correlation of 0.18, roughly unchanged from 0.19 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard FTSE Canadian High Dividend Yield Index E... | 0.18 | 0.19 | — | 99 | Dividend | GOOG.TO vs VDY.TO | |
| iShares S&P/TSX SmallCap Index ETF | 0.22 | 0.24 | — | 64 | Canada Equities | GOOG.TO vs XCS.TO | |
| BMO Equal Weight Banks Index ETF | 0.36 | 0.28 | — | 98 | Financials Equities, Equal Weight | GOOG.TO vs ZEB.TO | |
| Global X Artificial Intelligence Semiconductor Ind... | 0.40 | 0.44 | — | 89 | Semiconductors, Technology Equities | GOOG.TO vs CHPS.TO | |
| Vanguard All-Equity ETF Portfolio | 0.51 | 0.49 | — | 87 | Global Equities | GOOG.TO vs VEQT.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from GOOG.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to GOOG.TO and solid risk/return profiles. The least correlated is Fortis Inc. (FTS.TO) (Utilities) with a 1Y correlation of -0.17, roughly unchanged from -0.09 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Fortis Inc. | -0.17 | -0.09 | — | 92 | Utilities | |
| George Weston Limited | -0.13 | 0.03 | — | 75 | Consumer Defensive | |
| Loblaw Companies Limited | -0.10 | 0.02 | — | 71 | Consumer Defensive | |
| Alimentation Couche-Tard Inc. | 0.04 | 0.09 | — | 70 | Consumer Cyclical | |
| Saputo Inc. | 0.09 | 0.10 | — | 90 | Consumer Defensive |
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