Looking to diversify beyond VFV.TO? The ETFs below have the lowest correlation with VFV.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 VFV.TO.
Best Diversifiers for VFV.TO
29 ETFs have low correlation with VFV.TO (below 0.3), 6 of which are negatively correlated. The least correlated is BMO Equal Weight Oil & Gas Index ETF (ZEO.TO) (Energy Equities) with a 1Y correlation of -0.15, down from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BMO Equal Weight Oil & Gas Index ETF | -0.15 | 0.09 | 0.17 | 86 | Energy Equities | VFV.TO vs ZEO.TO | |
| iShares S&P/TSX Capped Energy Index ETF | -0.13 | 0.07 | 0.16 | 86 | Energy Equities | VFV.TO vs XEG.TO | |
| Global X S&P/TSX Capped Energy Index Corporate Cla... | -0.12 | 0.06 | 0.13 | 86 | Energy Equities | VFV.TO vs HXE.TO | |
| BMO Covered Call Utilities ETF | -0.07 | 0.11 | 0.25 | 58 | Utilities Equities, Derivative Income | VFV.TO vs ZWU.TO | |
| Purpose Cash Management Fund | -0.04 | -0.02 | — | 100 | Money Market | VFV.TO vs MNY.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from VFV.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to VFV.TO and solid risk/return profiles. The least correlated is AltaGas Ltd. (ALA.TO) (Utilities) with a 1Y correlation of -0.24, down from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AltaGas Ltd. | -0.24 | 0.03 | 0.14 | 92 | Utilities | |
| Fortis Inc. | -0.17 | 0.01 | 0.06 | 79 | Utilities | |
| Emera Incorporated | -0.16 | 0.01 | 0.07 | 79 | Utilities | |
| Enbridge Inc. | -0.14 | 0.07 | 0.17 | 81 | Energy | |
| Canadian Natural Resources Limited | -0.14 | 0.07 | 0.14 | 86 | Energy |
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