Looking to balance out your exposure to IGM.TO? The ETFs below have historically moved differently from IGM.TO, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
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 0.53, roughly unchanged from 0.57 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| RBC Canadian Bank Yield Index ETF | 0.53 | 0.53 | 0.57 | 98 | Financials Equities | IGM.TO vs RBNK.TO | |
| Vanguard FTSE Canada Index ETF | 0.53 | 0.58 | 0.62 | 89 | Canada Equities | IGM.TO vs VCE.TO | |
| Evolve Canadian Banks and Lifecos Enhanced Yield I... | 0.62 | 0.61 | — | 98 | Derivative Income | IGM.TO vs BANK.TO |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for IGM.TO, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Whitecap Resources Inc. (WCP.TO) (Energy) with a 1Y correlation of -0.16, down from 0.15 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Whitecap Resources Inc. | -0.16 | 0.06 | 0.15 | 93 | Energy | |
| Emera Incorporated | -0.11 | 0.14 | 0.14 | 86 | Utilities | |
| Quebecor Inc | -0.03 | 0.05 | 0.09 | 96 | Communication Services | |
| Quebecor Inc | -0.02 | 0.02 | 0.13 | 97 | Communication Services | |
| Extendicare Inc. | 0.14 | 0.21 | 0.28 | 99 | Healthcare |
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