Looking to balance out your exposure to LB.TO? The ETFs below have the lowest correlation with LB.TO — they tend to move on their own, which can help reduce risk when LB.TO drops. The stock ideas table highlights individual companies that behave independently from LB.TO.
No Diversifiers Found for LB.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 LB.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to LB.TO and solid risk/return profiles. The least correlated is Cenovus Energy Inc. (CVE.TO) (Energy) with a 1Y correlation of -0.02, down from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cenovus Energy Inc. | -0.02 | 0.15 | 0.22 | 96 | Energy | |
| OceanaGold Corporation | 0.01 | 0.10 | 0.11 | 78 | Basic Materials | |
| Kinross Gold Corporation | 0.03 | 0.08 | 0.12 | 78 | Basic Materials | |
| SmartCentres Real Estate Investment Trust | 0.04 | 0.31 | 0.37 | 85 | Real Estate | |
| Dundee Precious Metals Inc. | 0.04 | 0.06 | 0.11 | 87 | Basic Materials |
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