Looking to balance out your exposure to SIA.TO? The ETFs below have the lowest correlation with SIA.TO — they tend to move on their own, which can help reduce risk when SIA.TO drops. The stock ideas table highlights individual companies that behave independently from SIA.TO.
Best Diversifiers for SIA.TO
3 ETFs have low correlation with SIA.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.TO) (Dividend) with a 1Y correlation of 0.14, down from 0.42 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard FTSE Canadian High Dividend Yield Index E... | 0.14 | 0.34 | 0.43 | 99 | Dividend | SIA.TO vs VDY.TO | |
| iShares Core S&P/TSX Capped Composite Index ETF | 0.19 | 0.37 | 0.46 | 89 | Canada Equities | SIA.TO vs XIC.TO | |
| Fidelity Canadian Value ETF | 0.24 | 0.36 | 0.42 | 94 | Canada Equities | SIA.TO vs FCCV.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SIA.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SIA.TO and solid risk/return profiles. The least correlated is Peyto Exploration & Development Corp. (PEY.TO) (Energy) with a 1Y correlation of 0.08, roughly unchanged from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Peyto Exploration & Development Corp. | 0.08 | 0.11 | 0.15 | 77 | Energy | |
| Sun Life Financial Inc. | 0.20 | 0.28 | 0.36 | 91 | Financial Services | |
| SmartCentres Real Estate Investment Trust | 0.36 | 0.48 | 0.53 | 92 | Real Estate | |
| Extendicare Inc. | 0.66 | 0.53 | 0.57 | 99 | Healthcare | |
| Chartwell Retirement Residences | 0.69 | 0.59 | 0.61 | 81 | Real Estate |
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