Looking to diversify beyond UMAX.TO? The ETFs below have the lowest correlation with UMAX.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 UMAX.TO.
Best Diversifiers for UMAX.TO
42 ETFs have low correlation with UMAX.TO (below 0.3), 19 of which are negatively correlated. The least correlated is Evolve NASDAQ Technology Enhanced Yield Index Fund (QQQY.TO) (Nasdaq-100) with a 1Y correlation of -0.23, down from 0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Evolve NASDAQ Technology Enhanced Yield Index Fund | -0.23 | 0.03 | 0.03 | 61 | Nasdaq-100, Derivative Income | UMAX.TO vs QQQY.TO | |
| CI Tech Giants Covered Call Common | -0.23 | 0.06 | — | 70 | Technology Equities, Derivative Income | UMAX.TO vs TXF.TO | |
| Broadcom (AVGO) Yield Shares Purpose ETF | -0.21 | — | — | 57 | Derivative Income, Semiconductors | UMAX.TO vs YAVG.NEO | |
| Invesco NASDAQ 100 Index ETF CAD Hedged | -0.16 | 0.07 | 0.08 | 68 | Nasdaq-100 | UMAX.TO vs QQC.TO | |
| Fidelity Global Innovators ETF | -0.15 | 0.06 | — | 89 | Global Equities | UMAX.TO vs FINN.NEO |
See all 58 diversifiers for UMAX.TO
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