Looking to diversify beyond SLVD.TO? The ETFs below have the lowest correlation with SLVD.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 SLVD.TO.
Best Diversifiers for SLVD.TO
10 ETFs have low correlation with SLVD.TO (below 0.3), 9 of which are negatively correlated. The least correlated is Global X S&P/TSX 60 Index Corporate Class ETF (HXT.TO) (Canada Equities) with a 1Y correlation of -0.43, roughly unchanged from -0.35 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X S&P/TSX 60 Index Corporate Class ETF | -0.43 | -0.37 | -0.35 | 89 | Canada Equities | SLVD.TO vs HXT.TO | |
| Global X Artificial Intelligence Semiconductor Ind... | -0.26 | -0.24 | -0.24 | 94 | Semiconductors, Technology Equities | SLVD.TO vs CHPS.TO | |
| Global X Equal Weight Banks Index ETF | -0.21 | — | — | 98 | Financials Equities, Equal Weight | SLVD.TO vs HBNK.TO | |
| Global X S&P 500 Index Corporate Class ETF | -0.21 | -0.12 | -0.09 | 76 | S&P 500 | SLVD.TO vs HXS.TO | |
| Global X Enhanced NASDAQ-100 Covered Call ETF | -0.18 | — | — | 85 | Nasdaq-100, Derivative Income | SLVD.TO vs QQCL.TO |
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