Looking to diversify beyond NRGU.TO? The ETFs below have historically moved differently from NRGU.TO, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for NRGU.TO
18 ETFs have low correlation with NRGU.TO (below 0.3), 14 of which are negatively correlated. The least correlated is BetaPro S&P/TSX Capped Financials 2x Daily Bull ETF (CFOU.TO) (Leveraged Equities) with a 1Y correlation of -0.21, down from 0.26 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BetaPro S&P/TSX Capped Financials 2x Daily Bull ET... | -0.21 | 0.09 | 0.26 | 97 | Leveraged Equities, Financials Equities, Canada Equities | NRGU.TO vs CFOU.TO | |
| Global X Equal Weight Banks Index ETF | -0.18 | 0.10 | — | 98 | Financials Equities, Equal Weight | NRGU.TO vs HBNK.TO | |
| Hamilton Enhanced Canadian Bank ETF | -0.18 | 0.10 | 0.26 | 98 | Financials Equities, Canada Equities, Leveraged Equities | NRGU.TO vs HCAL.TO | |
| Global X NASDAQ-100 Covered Call ETF | -0.15 | 0.02 | 0.11 | 56 | Nasdaq-100, Derivative Income | NRGU.TO vs QQCC.TO | |
| Global X S&P 500 Index Corporate Class ETF | -0.14 | 0.05 | 0.14 | 70 | S&P 500 | NRGU.TO vs HXS.TO |
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