Looking to balance out your exposure to OTEX.TO? The ETFs below have the lowest correlation with OTEX.TO — they tend to move on their own, which can help reduce risk when OTEX.TO drops. The stock ideas table highlights individual companies that behave independently from OTEX.TO.
No Diversifiers Found for OTEX.TO
We do not have enough correlation history to rank diversifiers for this symbol yet.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from OTEX.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to OTEX.TO and solid risk/return profiles. The least correlated is Canadian Natural Resources Limited (CNQ.TO) (Energy) with a 1Y correlation of 0.00, down from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Canadian Natural Resources Limited | 0.00 | 0.10 | 0.11 | 86 | Energy | |
| Brookfield Infrastructure Partners L.P | 0.06 | 0.26 | 0.27 | 76 | Utilities | |
| Great-West Lifeco Inc. | 0.08 | 0.12 | 0.19 | 95 | Financial Services | |
| Lundin Gold Inc. | 0.08 | 0.12 | 0.11 | 58 | Basic Materials | |
| Celestica Inc. | 0.10 | 0.27 | 0.33 | 94 | Technology |
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