Looking to balance out your exposure to LMN.V? The ETFs below have the lowest correlation with LMN.V — they tend to move on their own, which can help reduce risk when LMN.V drops. The stock ideas table highlights individual companies that behave independently from LMN.V.
Best Diversifiers for LMN.V
2 ETFs have low correlation with LMN.V (below 0.3), 1 of which are negatively correlated. The least correlated is iShares Convertible Bond Index ETF (CVD.TO) (Convertible Bonds) with a 1Y correlation of -0.02, roughly unchanged from 0.03 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Convertible Bond Index ETF | -0.02 | 0.03 | — | 51 | Convertible Bonds | LMN.V vs CVD.TO | |
| Vanguard S&P 500 Index ETF | 0.07 | 0.15 | — | 74 | S&P 500 | LMN.V vs VFV.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from LMN.V, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to LMN.V and solid risk/return profiles. The least correlated is Celestica Inc. (CLS.TO) (Technology) with a 1Y correlation of -0.09, down from 0.07 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Celestica Inc. | -0.09 | 0.07 | — | 81 | Technology | |
| Lundin Gold Inc. | -0.06 | -0.06 | — | 68 | Basic Materials | |
| Enbridge Inc. | -0.04 | 0.01 | — | 93 | Energy | |
| ARC Resources Ltd. | -0.01 | 0.04 | 0.05 | 70 | Energy | |
| Canadian Natural Resources Limited | 0.00 | 0.05 | — | 89 | Energy |
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