Looking to balance out your exposure to MFI.TO? The ETFs below have the lowest correlation with MFI.TO — they tend to move on their own, which can help reduce risk when MFI.TO drops. The stock ideas table highlights individual companies that behave independently from MFI.TO.
Best Diversifiers for MFI.TO
3 ETFs have low correlation with MFI.TO (below 0.3), 0 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedg... | 0.06 | — | — | 56 | Derivative Income, Short-Term Bond | MFI.TO vs HBIL.TO | |
| iShares Core Balanced ETF Portfolio | 0.10 | 0.16 | 0.28 | 61 | Diversified Portfolio | MFI.TO vs XBAL.TO | |
| Vanguard FTSE Canadian High Dividend Yield Index E... | 0.17 | 0.18 | 0.25 | 98 | Dividend | MFI.TO vs VDY.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MFI.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MFI.TO and solid risk/return profiles. The least correlated is Chemtrade Logistics Income Fund (CHE-UN.TO) (Basic Materials) with a 1Y correlation of -0.03, down from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chemtrade Logistics Income Fund | -0.03 | 0.15 | 0.17 | 84 | Basic Materials | |
| Manulife Financial Corporation | 0.03 | 0.08 | 0.20 | 74 | Financial Services | |
| Enbridge Inc. | 0.07 | 0.12 | 0.18 | 81 | Energy | |
| The Bank of Nova Scotia | 0.08 | 0.16 | 0.22 | 96 | Financial Services | |
| Alamos Gold Inc. | 0.13 | 0.10 | 0.09 | 65 | Basic Materials |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements MFI.TO
Add MFI.TO to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with MFI.TO