Looking to diversify beyond MGB.TO? The ETFs below have the lowest correlation with MGB.TO — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from MGB.TO.
Best Diversifiers for MGB.TO
6 ETFs have low correlation with MGB.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Mackenzie Growth Allocation ETF (MGRW.TO) (Diversified Portfolio) with a 1Y correlation of 0.10, roughly unchanged from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Mackenzie Growth Allocation ETF | 0.10 | 0.14 | 0.14 | 87 | Diversified Portfolio | MGB.TO vs MGRW.TO | |
| Mackenzie International Equity Index ETF (CAD-Hedg... | 0.15 | 0.11 | 0.08 | 82 | International Equity | MGB.TO vs QDXH.TO | |
| Purpose Global Bond Fund | 0.16 | 0.23 | 0.17 | 56 | Global Bonds | MGB.TO vs BND.TO | |
| Mackenzie US Large Cap Equity Index ETF | 0.22 | 0.17 | 0.12 | 75 | Large Cap Blend Equities | MGB.TO vs QUU.TO | |
| Mackenzie International Equity Index ETF | 0.22 | 0.17 | 0.15 | 67 | Foreign Large Cap Equities | MGB.TO vs QDX.TO |
See all 6 diversifiers for MGB.TO
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