Looking to diversify beyond UDA.TO? The ETFs below have historically moved differently from UDA.TO, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for UDA.TO
16 ETFs have low correlation with UDA.TO (below 0.3), 0 of which are negatively correlated. The least correlated is CI Morningstar Canada Momentum Index ETF (WXM.TO) (Momentum) with a 1Y correlation of 0.02, down from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| CI Morningstar Canada Momentum Index ETF | 0.02 | 0.07 | 0.13 | 86 | Momentum, Canada Equities | UDA.TO vs WXM.TO | |
| iShares Core MSCI Canadian Quality Dividend Index ... | 0.03 | 0.08 | 0.13 | 98 | Quality Factor, Dividend, Large Cap Value Equities | UDA.TO vs XDIV.TO | |
| Vanguard S&P 500 Index ETF | 0.05 | 0.13 | 0.14 | 70 | S&P 500 | UDA.TO vs VFV.TO | |
| iShares Core MSCI US Quality Dividend Index ETF | 0.05 | 0.12 | 0.14 | 75 | Quality Factor, Large Cap Value Equities, Dividend | UDA.TO vs XDU.TO | |
| iShares Core MSCI US Quality Dividend Index ETF (C... | 0.06 | 0.11 | 0.17 | 68 | Quality Factor, Large Cap Value Equities, Dividend | UDA.TO vs XDUH.TO |
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