Looking to balance out your exposure to MAG.TO? The ETFs below have the lowest correlation with MAG.TO — they tend to move on their own, which can help reduce risk when MAG.TO drops. The stock ideas table highlights individual companies that behave independently from MAG.TO.
No Diversifiers Found for MAG.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 MAG.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MAG.TO and solid risk/return profiles. The least correlated is Finning International Inc. (FTT.TO) (Industrials) with a 1Y correlation of -0.04, down from 0.25 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Finning International Inc. | -0.04 | 0.22 | 0.25 | 95 | Industrials | |
| MDA Space Ltd. | -0.03 | 0.09 | 0.11 | 75 | Industrials | |
| Paramount Resources Ltd. | -0.02 | 0.15 | 0.21 | 85 | Energy | |
| Power Corporation of Canada | -0.02 | 0.12 | 0.15 | 94 | Financial Services | |
| Tamarack Valley Energy Ltd. | 0.04 | 0.21 | 0.22 | 99 | Energy |
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