Looking to diversify beyond UMRT.TO? The ETFs below have the lowest correlation with UMRT.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 UMRT.TO.
Best Diversifiers for UMRT.TO
10 ETFs have low correlation with UMRT.TO (below 0.3), 3 of which are negatively correlated. The least correlated is Global X Equal Weight Banks Index ETF (HBNK.TO) (Financials Equities) with a 1Y correlation of -0.04, roughly unchanged from -0.00 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X Equal Weight Banks Index ETF | -0.04 | -0.00 | -0.00 | 96 | Financials Equities | UMRT.TO vs HBNK.TO | |
| Global X High Interest Savings ETF | -0.02 | — | — | 100 | Money Market | UMRT.TO vs CASH.TO | |
| Global X S&P/TSX 60 Corporate Class ETF | -0.01 | — | — | 87 | Canada Equities | UMRT.TO vs HXT.TO | |
| Global X 0-3 Month T-Bill ETF | 0.01 | 0.01 | 0.01 | 99 | Canadian Government Bonds | UMRT.TO vs CBIL.TO | |
| Global X Enhanced NASDAQ-100 Covered Call ETF | 0.01 | — | — | 82 | Nasdaq-100, Derivative Income | UMRT.TO vs QQCL.TO |
See all 10 diversifiers for UMRT.TO
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