Looking to balance out your exposure to IGM.TO? The ETFs below have the lowest correlation with IGM.TO — they tend to move on their own, which can help reduce risk when IGM.TO drops. The stock ideas table highlights individual companies that behave independently from IGM.TO.
Best Diversifiers for IGM.TO
0 ETFs have low correlation with IGM.TO (below 0.3), 0 of which are negatively correlated. The least correlated is RBC Canadian Bank Yield Index ETF (RBNK.TO) (Financials Equities) with a 1Y correlation of 0.48, roughly unchanged from 0.57 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| RBC Canadian Bank Yield Index ETF | 0.48 | 0.53 | 0.57 | 96 | Financials Equities | IGM.TO vs RBNK.TO | |
| Vanguard FTSE Canada Index ETF | 0.53 | 0.59 | 0.63 | 72 | Canada Equities | IGM.TO vs VCE.TO | |
| Evolve Canadian Banks and Lifecos Enhanced Yield I... | 0.57 | 0.60 | — | 96 | Derivative Income | IGM.TO vs BANK.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from IGM.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to IGM.TO and solid risk/return profiles. The least correlated is Whitecap Resources Inc. (WCP.TO) (Energy) with a 1Y correlation of -0.09, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Whitecap Resources Inc. | -0.09 | 0.10 | 0.18 | 96 | Energy | |
| Quebecor Inc | -0.03 | 0.06 | 0.09 | 96 | Communication Services | |
| Quebecor Inc | -0.02 | 0.03 | 0.13 | 96 | Communication Services | |
| First Capital Real Estate Investment Trust | 0.18 | 0.36 | 0.42 | 91 | Real Estate | |
| Extendicare Inc. | 0.19 | 0.24 | 0.30 | 97 | Healthcare |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements IGM.TO
Add IGM.TO to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with IGM.TO