Looking to diversify beyond VCN.TO? The ETFs below have the lowest correlation with VCN.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 VCN.TO.
Best Diversifiers for VCN.TO
16 ETFs have low correlation with VCN.TO (below 0.3), 4 of which are negatively correlated. The least correlated is iShares Floating Rate Index ETF (XFR.TO) (Canadian Government Bonds) with a 1Y correlation of -0.05, roughly unchanged from -0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Floating Rate Index ETF | -0.05 | -0.00 | -0.01 | 98 | Canadian Government Bonds | VCN.TO vs XFR.TO | |
| Global X S&P/TSX Capped Energy Index Corporate Cla... | -0.04 | 0.29 | 0.42 | 89 | Energy Equities | VCN.TO vs HXE.TO | |
| Purpose Cash Management Fund | -0.03 | 0.00 | — | 100 | Money Market | VCN.TO vs MNY.TO | |
| Global X 0-3 Month T-Bill ETF | -0.02 | 0.02 | — | 99 | Canadian Government Bonds | VCN.TO vs CBIL.TO | |
| Purpose High Interest Savings Fund | 0.00 | 0.04 | 0.04 | 100 | Money Market | VCN.TO vs PSA.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from VCN.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to VCN.TO and solid risk/return profiles. The least correlated is Fortis Inc. (FTS.TO) (Utilities) with a 1Y correlation of -0.06, down from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Fortis Inc. | -0.06 | 0.21 | 0.17 | 82 | Utilities | |
| Rogers Communications Inc. | 0.02 | 0.15 | 0.13 | 79 | Communication Services | |
| Canadian Natural Resources Limited | 0.05 | 0.32 | 0.43 | 88 | Energy | |
| Enbridge Inc. | 0.11 | 0.36 | 0.46 | 85 | Energy | |
| Power Corporation of Canada | 0.22 | 0.34 | 0.46 | 94 | Financial Services |
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