Looking to diversify beyond VFV.TO? The ETFs below have historically moved differently from VFV.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 VFV.TO
27 ETFs have low correlation with VFV.TO (below 0.3), 7 of which are negatively correlated. The least correlated is Global X Canadian Oil and Gas Equity Covered Call ETF (ENCC.TO) (Derivative Income) with a 1Y correlation of -0.21, down from 0.14 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X Canadian Oil and Gas Equity Covered Call ... | -0.21 | 0.06 | 0.14 | 92 | Derivative Income, Energy Equities | VFV.TO vs ENCC.TO | |
| BMO Equal Weight Oil & Gas Index ETF | -0.19 | 0.06 | 0.15 | 92 | Energy Equities, Equal Weight | VFV.TO vs ZEO.TO | |
| Global X S&P/TSX Capped Energy Index Corporate Cla... | -0.16 | 0.03 | 0.11 | 87 | Energy Equities | VFV.TO vs HXE.TO | |
| iShares S&P/TSX Capped Energy Index ETF | -0.15 | 0.05 | 0.14 | 89 | Energy Equities, Canada Equities | VFV.TO vs XEG.TO | |
| BMO Covered Call Utilities ETF | -0.14 | 0.08 | 0.23 | 64 | Utilities Equities, Derivative Income | VFV.TO vs ZWU.TO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for VFV.TO, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is AltaGas Ltd. (ALA.TO) (Utilities) with a 1Y correlation of -0.31, down from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AltaGas Ltd. | -0.31 | -0.01 | 0.12 | 93 | Utilities | |
| Fortis Inc. | -0.24 | -0.03 | 0.04 | 87 | Utilities | |
| Emera Incorporated | -0.23 | -0.03 | 0.05 | 86 | Utilities | |
| Enbridge Inc. | -0.18 | 0.05 | 0.15 | 87 | Energy | |
| Canadian Natural Resources Limited | -0.16 | 0.05 | 0.13 | 88 | Energy |
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