Looking to balance out your exposure to NTR.TO? The ETFs below have the lowest correlation with NTR.TO — they tend to move on their own, which can help reduce risk when NTR.TO drops. The stock ideas table highlights individual companies that behave independently from NTR.TO.
Best Diversifiers for NTR.TO
2 ETFs have low correlation with NTR.TO (below 0.3), 0 of which are negatively correlated. The least correlated is iShares S&P/TSX 60 Index ETF (XIU.TO) (Canada Equities) with a 1Y correlation of 0.05, down from 0.38 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares S&P/TSX 60 Index ETF | 0.05 | 0.30 | 0.38 | 87 | Canada Equities | NTR.TO vs XIU.TO | |
| iShares Core MSCI Canadian Quality Dividend Index ... | 0.24 | 0.39 | 0.42 | 98 | Dividend, Large Cap Value Equities | NTR.TO vs XDIV.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NTR.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NTR.TO and solid risk/return profiles. The least correlated is Magna International Inc. (MG.TO) (Consumer Cyclical) with a 1Y correlation of 0.01, down from 0.26 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Magna International Inc. | 0.01 | 0.22 | 0.26 | 93 | Consumer Cyclical | |
| Brookfield Renewable Partners L.P | 0.02 | 0.17 | 0.14 | 88 | Utilities | |
| Cameco Corporation | 0.04 | 0.11 | 0.21 | 84 | Energy | |
| Magellan Aerospace Corporation | 0.06 | 0.11 | 0.12 | 88 | Industrials | |
| Saputo Inc. | 0.11 | 0.20 | 0.14 | 92 | Consumer Defensive |
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