Looking to balance out your exposure to TSLA.TO? The ETFs below have the lowest correlation with TSLA.TO — they tend to move on their own, which can help reduce risk when TSLA.TO drops. The stock ideas table highlights individual companies that behave independently from TSLA.TO.
Best Diversifiers for TSLA.TO
0 ETFs have low correlation with TSLA.TO (below 0.3), 0 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BMO Equal Weight Banks Index ETF | 0.32 | — | — | 96 | Financials Equities | TSLA.TO vs ZEB.TO | |
| Global X Enhanced S&P 500 Covered Call ETF | 0.45 | — | — | 80 | Derivative Income, S&P 500 | TSLA.TO vs USCL.TO | |
| Vanguard All-Equity ETF Portfolio | 0.47 | — | — | 85 | Global Equities | TSLA.TO vs VEQT.TO | |
| Vanguard S&P 500 Index ETF | 0.51 | — | — | 78 | S&P 500 | TSLA.TO vs VFV.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from TSLA.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to TSLA.TO and solid risk/return profiles.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Bombardier Inc | 0.25 | — | — | 98 | Industrials |
Diversification Analysis
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