Looking to balance out your exposure to KNT.TO? The ETFs below have the lowest correlation with KNT.TO — they tend to move on their own, which can help reduce risk when KNT.TO drops. The stock ideas table highlights individual companies that behave independently from KNT.TO.
Best Diversifiers for KNT.TO
0 ETFs have low correlation with KNT.TO (below 0.3), 0 of which are negatively correlated. The least correlated is iShares Core Equity ETF Portfolio (XEQT.TO) (Global Equities) with a 1Y correlation of 0.41, up from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Core Equity ETF Portfolio | 0.41 | 0.28 | 0.24 | 75 | Global Equities | KNT.TO vs XEQT.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from KNT.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to KNT.TO and solid risk/return profiles. The least correlated is Paramount Resources Ltd. (POU.TO) (Energy) with a 1Y correlation of -0.06, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Paramount Resources Ltd. | -0.06 | 0.12 | 0.18 | 85 | Energy | |
| Tamarack Valley Energy Ltd. | 0.01 | 0.18 | 0.20 | 99 | Energy | |
| Laurentian Bank of Canada | 0.06 | 0.14 | 0.14 | 96 | Financial Services | |
| Great-West Lifeco Inc. | 0.10 | 0.08 | 0.10 | 95 | Financial Services | |
| The Bank of Nova Scotia | 0.13 | 0.20 | 0.15 | 96 | Financial Services |
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