Looking to balance out your exposure to TVK.TO? The ETFs below have the lowest correlation with TVK.TO — they tend to move on their own, which can help reduce risk when TVK.TO drops. The stock ideas table highlights individual companies that behave independently from TVK.TO.
Best Diversifiers for TVK.TO
2 ETFs have low correlation with TVK.TO (below 0.3), 0 of which are negatively correlated. The least correlated is iShares Canadian Value Index ETF (XCV.TO) (Canada Equities) with a 1Y correlation of 0.28, roughly unchanged from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Canadian Value Index ETF | 0.28 | 0.27 | 0.24 | 98 | Canada Equities | TVK.TO vs XCV.TO | |
| iShares Global Infrastructure Index ETF | 0.29 | 0.29 | 0.26 | 77 | Energy Equities | TVK.TO vs CIF.TO | |
| iShares Core S&P 500 Index ETF | 0.30 | 0.32 | 0.26 | 76 | S&P 500 | TVK.TO vs XUS.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from TVK.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to TVK.TO and solid risk/return profiles. The least correlated is Chemtrade Logistics Income Fund (CHE-UN.TO) (Basic Materials) with a 1Y correlation of 0.05, down from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chemtrade Logistics Income Fund | 0.05 | 0.18 | 0.15 | 85 | Basic Materials | |
| Loblaw Companies Limited | 0.08 | 0.12 | 0.07 | 66 | Consumer Defensive | |
| MDA Space Ltd. | 0.11 | 0.19 | 0.17 | 73 | Industrials | |
| Power Corporation of Canada | 0.16 | 0.13 | 0.11 | 95 | Financial Services | |
| Hammond Power Solutions Inc | 0.22 | 0.23 | 0.17 | 93 | Industrials |
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