Looking to balance out your exposure to IAG.TO? The ETFs below have the lowest correlation with IAG.TO — they tend to move on their own, which can help reduce risk when IAG.TO drops. The stock ideas table highlights individual companies that behave independently from IAG.TO.
Best Diversifiers for IAG.TO
3 ETFs have low correlation with IAG.TO (below 0.3), 0 of which are negatively correlated. The least correlated is BMO NASDAQ 100 Equity Index ETF (ZNQ.TO) (Nasdaq-100) with a 1Y correlation of 0.27, roughly unchanged from 0.28 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BMO NASDAQ 100 Equity Index ETF | 0.27 | 0.28 | 0.28 | 74 | Nasdaq-100 | IAG.TO vs ZNQ.TO | |
| iShares Global Infrastructure Index ETF | 0.29 | 0.37 | 0.38 | 70 | Energy Equities | IAG.TO vs CIF.TO | |
| TD Global Technology Leaders Index ETF | 0.30 | 0.31 | 0.30 | 58 | Technology Equities | IAG.TO vs TEC.TO | |
| iShares Core S&P 500 Index ETF | 0.35 | 0.36 | 0.36 | 73 | S&P 500 | IAG.TO vs XUS.TO | |
| Vanguard S&P 500 Index ETF | 0.36 | 0.36 | 0.36 | 74 | S&P 500 | IAG.TO vs VFV.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from IAG.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to IAG.TO and solid risk/return profiles. The least correlated is Whitecap Resources Inc. (WCP.TO) (Energy) with a 1Y correlation of -0.15, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Whitecap Resources Inc. | -0.15 | 0.09 | 0.18 | 96 | Energy | |
| Loblaw Companies Limited | 0.02 | 0.12 | 0.09 | 54 | Consumer Defensive | |
| Bombardier Inc | 0.17 | 0.31 | 0.31 | 98 | Industrials | |
| Lundin Gold Inc. | 0.20 | 0.12 | 0.13 | 58 | Basic Materials | |
| Cameco Corporation | 0.20 | 0.22 | 0.24 | 84 | Energy |
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