Looking to balance out your exposure to OLA.TO? The ETFs below have the lowest correlation with OLA.TO — they tend to move on their own, which can help reduce risk when OLA.TO drops. The stock ideas table highlights individual companies that behave independently from OLA.TO.
Best Diversifiers for OLA.TO
1 ETFs have low correlation with OLA.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 0.10, roughly unchanged from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 Index ETF | 0.10 | 0.11 | 0.06 | 74 | S&P 500 | OLA.TO vs VFV.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from OLA.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to OLA.TO and solid risk/return profiles. The least correlated is CES Energy Solutions Corp. (CEU.TO) (Energy) with a 1Y correlation of 0.03, down from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| CES Energy Solutions Corp. | 0.03 | 0.12 | 0.17 | 98 | Energy | |
| WELL Health Technologies Corp. | 0.11 | 0.15 | 0.15 | 52 | Healthcare | |
| Faraday Copper Corp. | 0.29 | 0.18 | 0.16 | 99 | Basic Materials | |
| K92 Mining Inc. | 0.61 | 0.59 | 0.60 | 70 | Basic Materials | |
| Equinox Gold Corp. | 0.67 | 0.60 | 0.62 | 71 | Basic Materials |
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