Looking to balance out your exposure to SOBO.TO? The ETFs below have the lowest correlation with SOBO.TO — they tend to move on their own, which can help reduce risk when SOBO.TO drops. The stock ideas table highlights individual companies that behave independently from SOBO.TO.
Best Diversifiers for SOBO.TO
3 ETFs have low correlation with SOBO.TO (below 0.3), 1 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BMO Money Market Fund ETF Series | -0.04 | — | — | 100 | Money Market | SOBO.TO vs ZMMK.TO | |
| BMO CA High Dividend Covered Call ETF | 0.21 | 0.21 | 0.21 | 92 | Derivative Income | SOBO.TO vs ZWC.TO | |
| Vanguard FTSE Canadian High Dividend Yield Index E... | 0.30 | — | — | 98 | Dividend | SOBO.TO vs VDY.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SOBO.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SOBO.TO and solid risk/return profiles.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Power Corporation of Canada | -0.13 | — | — | 94 | Financial Services | |
| Canadian National Railway Company | 0.06 | — | — | 63 | Industrials | |
| Capital Power Corporation | 0.07 | — | — | 68 | Utilities | |
| SmartCentres Real Estate Investment Trust | 0.12 | — | — | 82 | Real Estate | |
| Parex Resources Inc. | 0.13 | — | — | 92 | Energy |
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