Looking to diversify beyond OILY.TO? The ETFs below have the lowest correlation with OILY.TO — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from OILY.TO.
Best Diversifiers for OILY.TO
15 ETFs have low correlation with OILY.TO (below 0.3), 9 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Evolve NASDAQ Technology Index Fund CAD Hedged | -0.22 | — | — | 82 | Nasdaq-100, Technology Equities | OILY.TO vs QQQT.TO | |
| Evolve NASDAQ Technology Enhanced Yield Index Fund | -0.20 | — | — | 77 | Nasdaq-100, Derivative Income | OILY.TO vs QQQY.TO | |
| Evolve Canadian Banks and Lifecos Enhanced Yield I... | -0.18 | — | — | 96 | Derivative Income | OILY.TO vs BANK.TO | |
| CI Tech Giants Covered Call Common | -0.16 | — | — | 85 | Technology Equities, Derivative Income | OILY.TO vs TXF.TO | |
| iShares Core Equity ETF Portfolio | -0.12 | — | — | 75 | Global Equities | OILY.TO vs XEQT.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from OILY.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to OILY.TO and solid risk/return profiles. The least correlated is Whitecap Resources Inc. (WCP.TO) (Energy) with a 1Y correlation of 0.75, roughly unchanged from 0.68 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Whitecap Resources Inc. | 0.75 | 0.68 | 0.68 | 96 | Energy |
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