Looking to balance out your exposure to GWO.TO? The ETFs below have the lowest correlation with GWO.TO — they tend to move on their own, which can help reduce risk when GWO.TO drops. The stock ideas table highlights individual companies that behave independently from GWO.TO.
Best Diversifiers for GWO.TO
7 ETFs have low correlation with GWO.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Global Innovators ETF (FINN.NEO) (Global Equities) with a 1Y correlation of 0.04, roughly unchanged from 0.06 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Global Innovators ETF | 0.04 | 0.06 | — | 86 | Global Equities | GWO.TO vs FINN.NEO | |
| Vanguard FTSE Developed All Cap ex North America I... | 0.14 | 0.19 | 0.29 | 74 | International Equity | GWO.TO vs VIU.TO | |
| Vanguard FTSE Canadian High Dividend Yield Index E... | 0.15 | 0.21 | 0.38 | 99 | Dividend | GWO.TO vs VDY.TO | |
| Vanguard FTSE Global All Cap ex Canada Index ETF | 0.16 | 0.19 | 0.28 | 81 | Global Equities | GWO.TO vs VXC.TO | |
| Vanguard Growth ETF Portfolio | 0.18 | 0.21 | 0.32 | 86 | Diversified Portfolio | GWO.TO vs VGRO.TO |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from GWO.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to GWO.TO and solid risk/return profiles. The least correlated is Canadian Natural Resources Limited (CNQ.TO) (Energy) with a 1Y correlation of -0.25, down from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Canadian Natural Resources Limited | -0.25 | -0.09 | 0.09 | 88 | Energy | |
| Paramount Resources Ltd. | -0.22 | -0.09 | 0.10 | 77 | Energy | |
| Nutrien Ltd. | -0.18 | -0.02 | 0.12 | 64 | Basic Materials | |
| ARC Resources Ltd. | -0.17 | -0.04 | 0.10 | 69 | Energy | |
| Tamarack Valley Energy Ltd. | -0.17 | -0.06 | 0.11 | 99 | Energy |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements GWO.TO
Add GWO.TO to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with GWO.TO