Looking to balance out your exposure to MRU.TO? The ETFs below have the lowest correlation with MRU.TO — they tend to move on their own, which can help reduce risk when MRU.TO drops. The stock ideas table highlights individual companies that behave independently from MRU.TO.
Best Diversifiers for MRU.TO
4 ETFs have low correlation with MRU.TO (below 0.3), 2 of which are negatively correlated. The least correlated is Global X Artificial Intelligence Semiconductor Index ETF (CHPS.TO) (Semiconductors) with a 1Y correlation of -0.16, down from 0.02 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X Artificial Intelligence Semiconductor Ind... | -0.16 | 0.02 | — | 94 | Semiconductors, Technology Equities | MRU.TO vs CHPS.TO | |
| iShares NASDAQ 100 Index ETF (CAD-Hedged) | -0.11 | 0.08 | 0.11 | 66 | Nasdaq-100 | MRU.TO vs XQQ.TO | |
| BMO Equal Weight Banks Index ETF | 0.01 | 0.20 | 0.18 | 96 | Financials Equities | MRU.TO vs ZEB.TO | |
| Vanguard FTSE Canadian High Dividend Yield Index E... | 0.02 | 0.21 | 0.20 | 98 | Dividend | MRU.TO vs VDY.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MRU.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MRU.TO and solid risk/return profiles. The least correlated is Linamar Corporation (LNR.TO) (Consumer Cyclical) with a 1Y correlation of -0.06, down from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Linamar Corporation | -0.06 | 0.09 | 0.07 | 89 | Consumer Cyclical | |
| CES Energy Solutions Corp. | -0.03 | 0.01 | 0.01 | 98 | Energy | |
| Bombardier Inc | -0.01 | 0.09 | 0.08 | 98 | Industrials | |
| Toromont Industries Ltd. | 0.02 | 0.16 | 0.16 | 97 | Industrials | |
| Royal Bank of Canada | 0.06 | 0.25 | 0.22 | 97 | Financial Services |
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