Looking to balance out your exposure to IMO.TO? The ETFs below have the lowest correlation with IMO.TO — they tend to move on their own, which can help reduce risk when IMO.TO drops. The stock ideas table highlights individual companies that behave independently from IMO.TO.
Best Diversifiers for IMO.TO
2 ETFs have low correlation with IMO.TO (below 0.3), 2 of which are negatively correlated. The least correlated is Horizons NASDAQ-100 Index ETF (HXQ.TO) (Nasdaq-100) with a 1Y correlation of -0.05, roughly unchanged from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Horizons NASDAQ-100 Index ETF | -0.05 | 0.03 | 0.04 | 58 | Nasdaq-100 | IMO.TO vs HXQ.TO | |
| iShares Core S&P 500 Index ETF (CAD-Hedged) | -0.02 | 0.10 | 0.19 | 52 | S&P 500 | IMO.TO vs XSP.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from IMO.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to IMO.TO and solid risk/return profiles. The least correlated is Sun Life Financial Inc. (SLF.TO) (Financial Services) with a 1Y correlation of -0.09, down from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Sun Life Financial Inc. | -0.09 | 0.07 | 0.17 | 91 | Financial Services | |
| Royal Bank of Canada | -0.04 | 0.11 | 0.21 | 99 | Financial Services | |
| National Bank of Canada | -0.04 | 0.09 | 0.19 | 98 | Financial Services | |
| Emera Incorporated | -0.02 | -0.02 | -0.03 | 92 | Utilities | |
| Loblaw Companies Limited | -0.02 | 0.01 | 0.02 | 70 | Consumer Defensive |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements IMO.TO
Add IMO.TO to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with IMO.TO