Looking to balance out your exposure to GUD.TO? The ETFs below have historically moved differently from GUD.TO, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for GUD.TO
1 ETFs have low correlation with GUD.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard S&P 500 Index ETF (VFV.TO) (S&P 500) with a 1Y correlation of 0.15, roughly unchanged from 0.20 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 Index ETF | 0.15 | 0.18 | 0.20 | 72 | S&P 500 | GUD.TO vs VFV.TO |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for GUD.TO, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Fortis Inc. (FTS.TO) (Utilities) with a 1Y correlation of -0.03, down from 0.07 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Fortis Inc. | -0.03 | 0.06 | 0.07 | 87 | Utilities | |
| Sienna Senior Living Inc. | 0.04 | 0.18 | 0.21 | 85 | Healthcare | |
| The Toronto-Dominion Bank | 0.08 | 0.15 | 0.16 | 99 | Financial Services | |
| National Bank of Canada | 0.10 | 0.12 | 0.15 | 98 | Financial Services | |
| Saputo Inc. | 0.10 | 0.16 | 0.14 | 84 | Consumer Defensive |
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