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
4 ETFs have low correlation with VNP.TO (below 0.3), 1 of which are negatively correlated. The least correlated is Evolve US High Interest Savings Account Fund (HISU-U.TO) (Money Market) with a 1Y correlation of -0.03, roughly unchanged from 0.00 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Evolve US High Interest Savings Account Fund | -0.03 | 0.00 | — | 99 | Money Market | VNP.TO vs HISU-U.TO | |
| BMO Money Market Fund ETF Series | 0.17 | 0.06 | — | 100 | Money Market | VNP.TO vs ZMMK.TO | |
| BMO Japan Index ETF | 0.23 | 0.25 | — | 50 | Japan Equities | VNP.TO vs ZJPN.TO | |
| Vanguard FTSE Developed ex North America High Divi... | 0.27 | 0.28 | 0.31 | 59 | Foreign Large Cap Equities, Dividend | VNP.TO vs VIDY.TO | |
| Evolve Canadian Banks and Lifecos Enhanced Yield I... | 0.32 | 0.29 | — | 96 | Derivative Income | VNP.TO vs BANK.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 -0.01, down from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Whitecap Resources Inc. | -0.01 | 0.12 | 0.19 | 96 | Energy | |
| Extendicare Inc. | 0.08 | 0.09 | 0.17 | 97 | Healthcare | |
| CES Energy Solutions Corp. | 0.18 | 0.14 | 0.22 | 98 | Energy | |
| Collective Mining Ltd | 0.21 | 0.14 | 0.09 | 62 | Basic Materials | |
| First Majestic Silver Corp | 0.21 | 0.19 | 0.23 | 88 | Basic Materials |
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