Looking to balance out your exposure to IFC.TO? The ETFs below have the lowest correlation with IFC.TO — they tend to move on their own, which can help reduce risk when IFC.TO drops. The stock ideas table highlights individual companies that behave independently from IFC.TO.
Best Diversifiers for IFC.TO
3 ETFs have low correlation with IFC.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Global X S&P 500 Covered Call ETF (USCC.TO) (Derivative Income) with a 1Y correlation of 0.05, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X S&P 500 Covered Call ETF | 0.05 | 0.20 | 0.18 | 80 | Derivative Income, S&P 500 | IFC.TO vs USCC.TO | |
| iShares Core S&P/TSX Capped Composite Index ETF | 0.20 | 0.35 | 0.36 | 80 | Canada Equities | IFC.TO vs XIC.TO | |
| Fidelity Canadian Momentum Index ETF | 0.23 | 0.32 | 0.29 | 76 | Momentum, Canada Equities | IFC.TO vs FCCM.NEO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from IFC.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to IFC.TO and solid risk/return profiles. The least correlated is Toromont Industries Ltd. (TIH.TO) (Industrials) with a 1Y correlation of 0.02, down from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Toromont Industries Ltd. | 0.02 | 0.18 | 0.24 | 97 | Industrials | |
| Russel Metals Inc. | 0.03 | 0.18 | 0.23 | 88 | Industrials | |
| Kinross Gold Corporation | 0.07 | 0.15 | 0.14 | 80 | Basic Materials | |
| Chemtrade Logistics Income Fund | 0.09 | 0.16 | 0.15 | 84 | Basic Materials | |
| IGM Financial Inc. | 0.13 | 0.27 | 0.30 | 97 | Financial Services |
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