Looking to balance out your exposure to NWC.TO? The ETFs below have the lowest correlation with NWC.TO — they tend to move on their own, which can help reduce risk when NWC.TO drops. The stock ideas table highlights individual companies that behave independently from NWC.TO.
Best Diversifiers for NWC.TO
1 ETFs have low correlation with NWC.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard S&P 500 Index ETF (VFV.TO) (S&P 500) with a 1Y correlation of 0.02, down from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 Index ETF | 0.02 | 0.11 | 0.19 | 74 | S&P 500 | NWC.TO vs VFV.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NWC.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NWC.TO and solid risk/return profiles. The least correlated is Celestica Inc. (CLS.TO) (Technology) with a 1Y correlation of -0.01, down from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Celestica Inc. | -0.02 | 0.02 | 0.09 | 94 | Technology | |
| Great-West Lifeco Inc. | 0.06 | 0.11 | 0.17 | 95 | Financial Services | |
| Aritzia Inc. | 0.09 | 0.04 | 0.13 | 94 | Consumer Cyclical | |
| Maple Leaf Foods Inc. | 0.18 | 0.20 | 0.27 | 73 | Consumer Defensive | |
| Equitable Group Inc. | 0.20 | 0.16 | 0.18 | 68 | Financial Services |
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