Looking to balance out your exposure to NXR-UN.TO? The ETFs below have the lowest correlation with NXR-UN.TO — they tend to move on their own, which can help reduce risk when NXR-UN.TO drops. The stock ideas table highlights individual companies that behave independently from NXR-UN.TO.
Best Diversifiers for NXR-UN.TO
0 ETFs have low correlation with NXR-UN.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Hamilton Canadian Financials Yield Maximizer ETF (HMAX.TO) (Derivative Income) with a 1Y correlation of 0.46, roughly unchanged from 0.51 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Hamilton Canadian Financials Yield Maximizer ETF | 0.46 | 0.51 | — | 93 | Derivative Income | NXR-UN.TO vs HMAX.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NXR-UN.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NXR-UN.TO and solid risk/return profiles. The least correlated is Power Corporation of Canada (POW.TO) (Financial Services) with a 1Y correlation of 0.13, down from 0.31 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Power Corporation of Canada | 0.13 | 0.27 | 0.31 | 94 | Financial Services | |
| First Capital Real Estate Investment Trust | 0.36 | 0.46 | 0.46 | 91 | Real Estate | |
| CT Real Estate Investment Trust | 0.42 | 0.51 | 0.51 | 78 | Real Estate | |
| SmartCentres Real Estate Investment Trust | 0.57 | 0.56 | 0.53 | 84 | Real Estate |
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