Looking to balance out your exposure to MGA.TO? The ETFs below have the lowest correlation with MGA.TO — they tend to move on their own, which can help reduce risk when MGA.TO drops. The stock ideas table highlights individual companies that behave independently from MGA.TO.
No Diversifiers Found for MGA.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 MGA.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MGA.TO and solid risk/return profiles. The least correlated is Linamar Corporation (LNR.TO) (Consumer Cyclical) with a 1Y correlation of 0.20, roughly unchanged from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Linamar Corporation | 0.20 | 0.20 | 0.20 | 90 | Consumer Cyclical |
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