Looking to diversify beyond QCN.TO? The ETFs below have historically moved differently from QCN.TO, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for QCN.TO
7 ETFs have low correlation with QCN.TO (below 0.3), 0 of which are negatively correlated. The least correlated is iShares S&P/TSX Capped Energy Index ETF (XEG.TO) (Energy Equities) with a 1Y correlation of 0.05, down from 0.41 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares S&P/TSX Capped Energy Index ETF | 0.05 | 0.31 | 0.41 | 86 | Energy Equities, Canada Equities | QCN.TO vs XEG.TO | |
| Mackenzie Floating Rate Income ETF | 0.06 | 0.10 | 0.15 | 53 | Bank Loan, Corporate Bonds | QCN.TO vs MFT.TO | |
| Global X Inovestor Canadian Equity Index ETF | 0.12 | 0.38 | 0.45 | 81 | Canada Equities | QCN.TO vs INOC.TO | |
| Mackenzie AAA CLO ETF | 0.13 | — | — | 93 | CLO | QCN.TO vs MAAA.TO | |
| Mackenzie Canadian Short Term Fixed Income ETF | 0.18 | 0.09 | 0.06 | 62 | Short-Term Bond | QCN.TO vs MCSB.TO |
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