Looking to balance out your exposure to VNP.TO? The ETFs below have the lowest correlation with VNP.TO — they tend to move on their own, which can help reduce risk when VNP.TO drops. The stock ideas table highlights individual companies that behave independently from VNP.TO.
Best Diversifiers for VNP.TO
5 ETFs have low correlation with VNP.TO (below 0.3), 0 of which are negatively correlated. The least correlated is iShares Core Canadian Short Term Bond Index ETF (XSB.TO) (Short-Term Bond) with a 1Y correlation of 0.11, roughly unchanged from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Core Canadian Short Term Bond Index ETF | 0.11 | 0.09 | 0.06 | 59 | Short-Term Bond, Canadian Government Bonds | VNP.TO vs XSB.TO | |
| BMO Money Market Fund ETF Series | 0.15 | 0.07 | — | 99 | Money Market | VNP.TO vs ZMMK.TO | |
| BMO Low Volatility Canadian Equity ETF | 0.15 | 0.24 | 0.26 | 57 | Canada Equities | VNP.TO vs ZLB.TO | |
| Vanguard FTSE Developed ex North America High Divi... | 0.25 | 0.28 | 0.31 | 86 | Foreign Large Cap Equities, Dividend | VNP.TO vs VIDY.TO | |
| BMO Japan Index ETF | 0.28 | 0.26 | — | 63 | Japan Equities, Asia Pacific Equities | VNP.TO vs ZJPN.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from VNP.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to VNP.TO and solid risk/return profiles. The least correlated is Whitecap Resources Inc. (WCP.TO) (Energy) with a 1Y correlation of -0.00, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Whitecap Resources Inc. | -0.00 | 0.11 | 0.18 | 94 | Energy | |
| Extendicare Inc. | 0.06 | 0.08 | 0.16 | 99 | Healthcare | |
| CES Energy Solutions Corp. | 0.16 | 0.15 | 0.21 | 97 | Energy | |
| AbraSilver Resource Corp | 0.20 | 0.17 | 0.19 | 87 | Basic Materials | |
| Wesdome Gold Mines Ltd. | 0.21 | 0.11 | 0.16 | 72 | Basic Materials |
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