Looking to balance out your exposure to WEED.TO? The ETFs below have the lowest correlation with WEED.TO — they tend to move on their own, which can help reduce risk when WEED.TO drops. The stock ideas table highlights individual companies that behave independently from WEED.TO.
Best Diversifiers for WEED.TO
1 ETFs have low correlation with WEED.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco NASDAQ 100 Index ETF CAD Hedged (QQC.TO) (Nasdaq-100) with a 1Y correlation of 0.27, roughly unchanged from 0.33 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco NASDAQ 100 Index ETF CAD Hedged | 0.27 | 0.24 | 0.33 | 71 | Nasdaq-100 | WEED.TO vs QQC.TO | |
| iShares Core S&P/TSX Capped Composite Index ETF | 0.31 | 0.33 | 0.39 | 82 | Canada Equities | WEED.TO vs XIC.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from WEED.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to WEED.TO and solid risk/return profiles. The least correlated is NexGen Energy Ltd. (NXE.TO) (Energy) with a 1Y correlation of 0.24, roughly unchanged from 0.30 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NexGen Energy Ltd. | 0.24 | 0.25 | 0.30 | 76 | Energy |
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