Looking to balance out your exposure to JOY.TO? The ETFs below have the lowest correlation with JOY.TO — they tend to move on their own, which can help reduce risk when JOY.TO drops. The stock ideas table highlights individual companies that behave independently from JOY.TO.
No Diversifiers Found for JOY.TO
We do not have enough correlation history to rank diversifiers for this symbol yet.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from JOY.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to JOY.TO and solid risk/return profiles. The least correlated is Tenaz Energy Corp. (TNZ.TO) (Energy) with a 1Y correlation of 0.26, roughly unchanged from 0.27 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Tenaz Energy Corp. | 0.26 | 0.31 | 0.27 | 95 | Energy | |
| Valeura Energy Inc. | 0.36 | 0.36 | 0.29 | 72 | Energy | |
| Saturn Oil & Gas Inc | 0.46 | 0.50 | 0.43 | 98 | Energy | |
| Paramount Resources Ltd. | 0.47 | 0.52 | 0.56 | 85 | Energy | |
| Athabasca Oil Corporation | 0.47 | 0.56 | 0.54 | 94 | Energy |
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