Looking to balance out your exposure to LUN.TO? The ETFs below have the lowest correlation with LUN.TO — they tend to move on their own, which can help reduce risk when LUN.TO drops. The stock ideas table highlights individual companies that behave independently from LUN.TO.
Best Diversifiers for LUN.TO
0 ETFs have low correlation with LUN.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard S&P 500 Index ETF (VFV.TO) (S&P 500) with a 1Y correlation of 0.35, roughly unchanged from 0.27 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 Index ETF | 0.35 | 0.27 | 0.27 | 74 | S&P 500 | LUN.TO vs VFV.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from LUN.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to LUN.TO and solid risk/return profiles. The least correlated is Whitecap Resources Inc. (WCP.TO) (Energy) with a 1Y correlation of 0.03, down from 0.32 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Whitecap Resources Inc. | 0.03 | 0.23 | 0.32 | 96 | Energy | |
| Northland Power Inc. | 0.12 | 0.18 | 0.17 | 54 | Utilities | |
| CCL Industries Inc | 0.14 | 0.15 | 0.18 | 50 | Consumer Cyclical | |
| National Bank of Canada | 0.23 | 0.23 | 0.28 | 95 | Financial Services | |
| Almonty Industries Inc. | 0.33 | 0.20 | 0.15 | 96 | Basic Materials |
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