Looking to balance out your exposure to OVV.TO? The ETFs below have the lowest correlation with OVV.TO — they tend to move on their own, which can help reduce risk when OVV.TO drops. The stock ideas table highlights individual companies that behave independently from OVV.TO.
No Diversifiers Found for OVV.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 OVV.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to OVV.TO and solid risk/return profiles. The least correlated is Magna International Inc. (MG.TO) (Consumer Cyclical) with a 1Y correlation of -0.05, down from 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Magna International Inc. | -0.05 | 0.12 | 0.21 | 93 | Consumer Cyclical | |
| Strathcona Resources Ltd. | 0.47 | 0.45 | 0.54 | 74 | Energy | |
| Peyto Exploration & Development Corp. | 0.48 | 0.53 | 0.58 | 79 | Energy | |
| Canadian Natural Resources Limited | 0.72 | 0.69 | 0.73 | 88 | Energy |
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