Looking to diversify beyond ICPB.TO? The ETFs below have the lowest correlation with ICPB.TO — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from ICPB.TO.
Best Diversifiers for ICPB.TO
2 ETFs have low correlation with ICPB.TO (below 0.3), 1 of which are negatively correlated. The least correlated is IA Clarington Strategic Income Fund (ISIF.TO) (Diversified Portfolio) with a 1Y correlation of -0.08, down from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| IA Clarington Strategic Income Fund | -0.08 | 0.05 | 0.07 | 73 | Diversified Portfolio | ICPB.TO vs ISIF.TO | |
| iShares Flexible Monthly Income ETF CAD | 0.14 | — | — | 50 | High Yield Bonds | ICPB.TO vs XFLI.TO |
Diversification Analysis
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