Looking to balance out your exposure to NGEX.TO? The ETFs below have the lowest correlation with NGEX.TO — they tend to move on their own, which can help reduce risk when NGEX.TO drops. The stock ideas table highlights individual companies that behave independently from NGEX.TO.
No Diversifiers Found for NGEX.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 NGEX.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NGEX.TO and solid risk/return profiles. The least correlated is National Bank of Canada (NA.TO) (Financial Services) with a 1Y correlation of 0.31, up from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| National Bank of Canada | 0.31 | 0.20 | 0.20 | 97 | Financial Services | |
| Energy Fuels Inc. | 0.35 | 0.26 | 0.23 | 85 | Energy | |
| Dundee Precious Metals Inc. | 0.55 | 0.36 | 0.29 | 89 | Basic Materials | |
| Lundin Gold Inc. | 0.59 | 0.38 | 0.32 | 53 | Basic Materials | |
| First Quantum Minerals Ltd. | 0.61 | 0.40 | 0.32 | 88 | Basic Materials |
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