Looking to balance out your exposure to SAP.TO? The ETFs below have the lowest correlation with SAP.TO — they tend to move on their own, which can help reduce risk when SAP.TO drops. The stock ideas table highlights individual companies that behave independently from SAP.TO.
Best Diversifiers for SAP.TO
2 ETFs have low correlation with SAP.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard S&P 500 Index ETF (VFV.TO) (S&P 500) 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 | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 Index ETF | 0.05 | 0.16 | 0.21 | 74 | S&P 500 | SAP.TO vs VFV.TO | |
| iShares Canadian Financial Monthly Income ETF | 0.19 | 0.31 | 0.28 | 93 | Canada Equities | SAP.TO vs FIE.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SAP.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SAP.TO and solid risk/return profiles. The least correlated is Bombardier Inc (BBD-B.TO) (Industrials) with a 1Y correlation of 0.07, down from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Bombardier Inc | 0.07 | 0.18 | 0.20 | 98 | Industrials | |
| The Toronto-Dominion Bank | 0.09 | 0.20 | 0.18 | 98 | Financial Services | |
| Bank of Montreal | 0.10 | 0.20 | 0.20 | 95 | Financial Services | |
| National Bank of Canada | 0.11 | 0.22 | 0.22 | 95 | Financial Services | |
| Nutrien Ltd. | 0.11 | 0.20 | 0.14 | 61 | Basic Materials |
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