Looking to balance out your exposure to WDO.TO? The ETFs below have the lowest correlation with WDO.TO — they tend to move on their own, which can help reduce risk when WDO.TO drops. The stock ideas table highlights individual companies that behave independently from WDO.TO.
No Diversifiers Found for WDO.TO
We do not have enough correlation history to rank diversifiers for this symbol yet.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from WDO.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to WDO.TO and solid risk/return profiles. The least correlated is Paramount Resources Ltd. (POU.TO) (Energy) with a 1Y correlation of -0.07, down from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Paramount Resources Ltd. | -0.07 | 0.03 | 0.09 | 77 | Energy | |
| Tamarack Valley Energy Ltd. | -0.01 | 0.13 | 0.13 | 99 | Energy | |
| The Bank of Nova Scotia | 0.10 | 0.14 | 0.10 | 97 | Financial Services | |
| Power Corporation of Canada | 0.15 | 0.11 | 0.11 | 96 | Financial Services | |
| Celestica Inc. | 0.17 | 0.10 | 0.09 | 92 | Technology |
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