Looking to balance out your exposure to NVDA.TO? The ETFs below have the lowest correlation with NVDA.TO — they tend to move on their own, which can help reduce risk when NVDA.TO drops. The stock ideas table highlights individual companies that behave independently from NVDA.TO.
Best Diversifiers for NVDA.TO
4 ETFs have low correlation with NVDA.TO (below 0.3), 0 of which are negatively correlated. The least correlated is BMO Canadian Dividend ETF (ZDV.TO) (Canada Equities) with a 1Y correlation of 0.15, roughly unchanged from 0.21 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BMO Canadian Dividend ETF | 0.15 | 0.21 | — | 85 | Canada Equities | NVDA.TO vs ZDV.TO | |
| BMO Equal Weight Banks Index ETF | 0.27 | 0.26 | — | 96 | Financials Equities | NVDA.TO vs ZEB.TO | |
| iShares Core S&P/TSX Capped Composite Index ETF | 0.29 | 0.35 | — | 80 | Canada Equities | NVDA.TO vs XIC.TO | |
| iShares Global Infrastructure Index ETF | 0.30 | 0.31 | — | 70 | Energy Equities | NVDA.TO vs CIF.TO | |
| Vanguard FTSE Developed All Cap ex North America I... | 0.41 | 0.41 | — | 76 | International Equity | NVDA.TO vs VI.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NVDA.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NVDA.TO and solid risk/return profiles. The least correlated is Fortis Inc. (FTS.TO) (Utilities) with a 1Y correlation of -0.31, down from -0.14 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Fortis Inc. | -0.31 | -0.14 | — | 79 | Utilities | |
| George Weston Limited | -0.16 | 0.05 | — | 54 | Consumer Defensive | |
| Loblaw Companies Limited | -0.10 | 0.03 | — | 54 | Consumer Defensive | |
| Canadian Natural Resources Limited | -0.08 | 0.07 | 0.14 | 86 | Energy | |
| Saputo Inc. | -0.02 | 0.05 | — | 91 | Consumer Defensive |
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Build a portfolio that complements NVDA.TO
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