Looking to diversify beyond MNY.TO? The ETFs below have the lowest correlation with MNY.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 MNY.TO.
Best Diversifiers for MNY.TO
34 ETFs have low correlation with MNY.TO (below 0.3), 20 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Purpose Strategic Yield Fund | -0.14 | 0.04 | — | 95 | MNY.TO vs SYLD.TO | ||
| NVIDIA (NVDA) Yield Shares Purpose ETF | -0.12 | — | — | 62 | Derivative Income | MNY.TO vs YNVD.NEO | |
| iShares S&P/TSX Energy Transition Materials Index ... | -0.10 | — | — | 87 | Materials | MNY.TO vs XETM.TO | |
| iShares Floating Rate Index ETF | -0.10 | 0.03 | — | 98 | Canadian Government Bonds | MNY.TO vs XFR.TO | |
| Vanguard Global Momentum Factor ETF CAD | -0.09 | -0.01 | — | 78 | Momentum, Global Equities | MNY.TO vs VMO.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MNY.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MNY.TO and solid risk/return profiles. The least correlated is Brookfield Renewable Partners L.P (BEP-UN.TO) (Utilities) with a 1Y correlation of 0.01, roughly unchanged from 0.01 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Brookfield Renewable Partners L.P | 0.01 | 0.01 | — | 85 | Utilities | |
| Emera Incorporated | 0.01 | 0.06 | — | 79 | Utilities | |
| Northland Power Inc. | 0.05 | 0.04 | — | 54 | Utilities |
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