Looking to balance out your exposure to SJ.TO? The ETFs below have the lowest correlation with SJ.TO — they tend to move on their own, which can help reduce risk when SJ.TO drops. The stock ideas table highlights individual companies that behave independently from SJ.TO.
Best Diversifiers for SJ.TO
2 ETFs have low correlation with SJ.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard FTSE Canada Index ETF (VCE.TO) (Canada Equities) with a 1Y correlation of 0.24, down from 0.34 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard FTSE Canada Index ETF | 0.24 | 0.24 | 0.34 | 72 | Canada Equities | SJ.TO vs VCE.TO | |
| iShares S&P/TSX 60 Index ETF | 0.25 | 0.25 | 0.35 | 82 | Canada Equities | SJ.TO vs XIU.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SJ.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SJ.TO and solid risk/return profiles. The least correlated is Canadian Natural Resources Limited (CNQ.TO) (Energy) with a 1Y correlation of -0.03, down from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Canadian Natural Resources Limited | -0.03 | 0.05 | 0.15 | 86 | Energy | |
| Extendicare Inc. | 0.01 | 0.07 | 0.14 | 97 | Healthcare | |
| Hydro One Limited | 0.04 | 0.10 | 0.06 | 70 | Utilities | |
| Quebecor Inc | 0.04 | 0.06 | 0.09 | 96 | Communication Services | |
| Celestica Inc. | 0.04 | 0.08 | 0.18 | 94 | Technology |
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