Looking to diversify beyond RIDH.TO? The ETFs below have the lowest correlation with RIDH.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 RIDH.TO.
Best Diversifiers for RIDH.TO
2 ETFs have low correlation with RIDH.TO (below 0.3), 0 of which are negatively correlated. The least correlated is RBC Canadian Preferred Share ETF (RPF.TO) (Preferred Stock/Convertible Bonds) with a 1Y correlation of 0.19, roughly unchanged from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| RBC Canadian Preferred Share ETF | 0.19 | 0.16 | 0.20 | 97 | Preferred Stock/Convertible Bonds | RIDH.TO vs RPF.TO | |
| iShares Core MSCI Canadian Quality Dividend Index ... | 0.26 | 0.33 | 0.33 | 98 | Dividend, Large Cap Value Equities | RIDH.TO vs XDIV.TO | |
| Vanguard FTSE Canadian High Dividend Yield Index E... | 0.38 | 0.37 | 0.36 | 98 | Dividend | RIDH.TO vs VDY.TO | |
| RBC Quant U.S. Dividend Leaders ETF (CAD) | 0.45 | 0.36 | 0.31 | 58 | Large Cap Blend Equities, Dividend | RIDH.TO vs RUD.TO | |
| RBC Canadian Dividend Covered Call ETF | 0.46 | 0.42 | — | 93 | Derivative Income | RIDH.TO vs RCDC.TO |
See all 11 diversifiers for RIDH.TO
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