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
3 ETFs have low correlation with RIDH.TO (below 0.3), 0 of which are negatively correlated. The least correlated is RBC Canadian Discount Bond ETF (RCDB.NEO) (Short-Term Bond) with a 1Y correlation of 0.20, up from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| RBC Canadian Discount Bond ETF | 0.20 | 0.07 | 0.04 | 52 | Short-Term Bond | RIDH.TO vs RCDB.NEO | |
| RBC Canadian Preferred Share ETF | 0.21 | 0.16 | 0.20 | 97 | Preferred Stock/Convertible Bonds | RIDH.TO vs RPF.TO | |
| iShares Core MSCI Canadian Quality Dividend Index ... | 0.27 | 0.30 | 0.33 | 98 | Dividend, Large Cap Value Equities | RIDH.TO vs XDIV.TO | |
| Franklin International Core Equity Fund ETF Series | 0.37 | — | — | 78 | Foreign Large Cap Equities | RIDH.TO vs FCRI.TO | |
| Vanguard FTSE Canadian High Dividend Yield Index E... | 0.40 | 0.36 | 0.36 | 99 | Dividend | RIDH.TO vs VDY.TO |
See all 21 diversifiers for RIDH.TO
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