Looking to balance out your exposure to MDI.TO? The ETFs below have the lowest correlation with MDI.TO — they tend to move on their own, which can help reduce risk when MDI.TO drops. The stock ideas table highlights individual companies that behave independently from MDI.TO.
No Diversifiers Found for MDI.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 MDI.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MDI.TO and solid risk/return profiles. The least correlated is Methanex Corporation (MX.TO) (Basic Materials) with a 1Y correlation of 0.11, down from 0.30 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Methanex Corporation | 0.11 | 0.24 | 0.30 | 86 | Basic Materials | |
| Hudbay Minerals Inc. | 0.59 | 0.56 | 0.54 | 92 | Basic Materials |
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