Looking to balance out your exposure to SIS.TO? The ETFs below have the lowest correlation with SIS.TO — they tend to move on their own, which can help reduce risk when SIS.TO drops. The stock ideas table highlights individual companies that behave independently from SIS.TO.
Best Diversifiers for SIS.TO
0 ETFs have low correlation with SIS.TO (below 0.3), 0 of which are negatively correlated. The least correlated is iShares S&P/TSX Composite High Dividend Index ETF (XEI.TO) (Canada Equities) with a 1Y correlation of 0.37, roughly unchanged from 0.37 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares S&P/TSX Composite High Dividend Index ETF | 0.37 | 0.38 | 0.37 | 98 | Canada Equities | SIS.TO vs XEI.TO | |
| Vanguard FTSE Developed ex North America High Divi... | 0.41 | 0.34 | 0.34 | 59 | Foreign Large Cap Equities, Dividend | SIS.TO vs VIDY.TO | |
| Vanguard FTSE Canadian High Dividend Yield Index E... | 0.42 | 0.40 | 0.39 | 98 | Dividend | SIS.TO vs VDY.TO | |
| iShares S&P/TSX 60 Index ETF | 0.44 | 0.42 | 0.43 | 82 | Large Cap Growth Equities | SIS.TO vs XIU.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SIS.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SIS.TO and solid risk/return profiles. The least correlated is Quebecor Inc (QBR-B.TO) (Communication Services) with a 1Y correlation of -0.12, down from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Quebecor Inc | -0.12 | 0.05 | 0.12 | 96 | Communication Services | |
| Hydro One Limited | -0.08 | 0.02 | 0.01 | 70 | Utilities | |
| Quebecor Inc | 0.00 | 0.05 | 0.06 | 96 | Communication Services | |
| Enbridge Inc. | 0.04 | 0.15 | 0.20 | 81 | Energy | |
| Suncor Energy Inc. | 0.04 | 0.15 | 0.15 | 96 | Energy |
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