Looking to balance out your exposure to MFC.TO? The ETFs below have the lowest correlation with MFC.TO — they tend to move on their own, which can help reduce risk when MFC.TO drops. The stock ideas table highlights individual companies that behave independently from MFC.TO.
Best Diversifiers for MFC.TO
3 ETFs have low correlation with MFC.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Global X High Interest Savings ETF (CASH.TO) (Money Market) with a 1Y correlation of 0.07, roughly unchanged from 0.04 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X High Interest Savings ETF | 0.07 | 0.04 | — | 100 | Money Market | MFC.TO vs CASH.TO | |
| Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedg... | 0.16 | — | — | 56 | Derivative Income, Short-Term Bond | MFC.TO vs HBIL.TO | |
| iShares Core Canadian Short Term Bond Index ETF | 0.28 | 0.12 | 0.06 | 64 | Short-Term Bond, Canadian Government Bonds | MFC.TO vs XSB.TO | |
| iShares S&P/TSX Composite High Dividend Index ETF | 0.33 | 0.50 | 0.59 | 98 | Canada Equities | MFC.TO vs XEI.TO | |
| Invesco NASDAQ 100 Index ETF CAD Hedged | 0.41 | 0.40 | 0.40 | 65 | Nasdaq-100 | MFC.TO vs QQC.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MFC.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MFC.TO and solid risk/return profiles. The least correlated is AltaGas Ltd. (ALA.TO) (Utilities) with a 1Y correlation of -0.20, down from 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AltaGas Ltd. | -0.20 | 0.08 | 0.21 | 94 | Utilities | |
| ARC Resources Ltd. | -0.19 | 0.08 | 0.18 | 69 | Energy | |
| Gibson Energy Inc. | -0.10 | 0.13 | 0.23 | 83 | Energy | |
| Canadian Utilities Limited | -0.10 | 0.12 | 0.13 | 98 | Utilities | |
| Tourmaline Oil Corp. | -0.09 | 0.10 | 0.19 | 57 | Energy |
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