Looking to diversify beyond UMI.TO? The ETFs below have the lowest correlation with UMI.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 UMI.TO.
Best Diversifiers for UMI.TO
3 ETFs have low correlation with UMI.TO (below 0.3), 0 of which are negatively correlated. The least correlated is CI Auspice Broad Commodity Fund ETF Hedged Units (CCOM.TO) (Commodities) with a 1Y correlation of 0.03, roughly unchanged from 0.08 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| CI Auspice Broad Commodity Fund ETF Hedged Units | 0.03 | 0.08 | — | 65 | Commodities | UMI.TO vs CCOM.TO | |
| CI Morningstar International Value Index ETF (Unhe... | 0.08 | 0.20 | 0.26 | 72 | Foreign Small & Mid Cap Equities | UMI.TO vs VXM-B.TO | |
| CI Canadian Banks Covered Call Income Class ETF | 0.09 | 0.25 | 0.40 | 97 | Financials Equities | UMI.TO vs CIC.TO |
Diversification Analysis
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