Looking to balance out your exposure to GUD.TO? The ETFs below have the lowest correlation with GUD.TO — they tend to move on their own, which can help reduce risk when GUD.TO drops. The stock ideas table highlights individual companies that behave independently from GUD.TO.
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 0.14, roughly unchanged from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 Index ETF | 0.14 | 0.19 | 0.20 | 74 | S&P 500 | GUD.TO vs VFV.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from GUD.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to GUD.TO and solid risk/return profiles. The least correlated is Fortis Inc. (FTS.TO) (Utilities) with a 1Y correlation of -0.01, roughly unchanged from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Fortis Inc. | -0.01 | 0.06 | 0.07 | 79 | Utilities | |
| Sienna Senior Living Inc. | 0.06 | 0.19 | 0.22 | 69 | Healthcare | |
| The Toronto-Dominion Bank | 0.13 | 0.17 | 0.17 | 98 | Financial Services | |
| National Bank of Canada | 0.13 | 0.14 | 0.16 | 95 | Financial Services | |
| George Weston Limited | 0.15 | 0.14 | 0.12 | 54 | Consumer Defensive |
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