Looking to balance out your exposure to WELL.TO? The ETFs below have the lowest correlation with WELL.TO — they tend to move on their own, which can help reduce risk when WELL.TO drops. The stock ideas table highlights individual companies that behave independently from WELL.TO.
Best Diversifiers for WELL.TO
0 ETFs have low correlation with WELL.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard S&P 500 Index ETF (VFV.TO) (S&P 500) with a 1Y correlation of 0.35, roughly unchanged from 0.40 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 Index ETF | 0.35 | 0.33 | 0.40 | 78 | S&P 500 | WELL.TO vs VFV.TO | |
| BMO S&P 500 Index ETF | 0.36 | 0.33 | 0.40 | 77 | S&P 500 | WELL.TO vs ZSP.TO | |
| iShares S&P/TSX 60 Index ETF | 0.39 | 0.38 | 0.40 | 87 | Canada Equities | WELL.TO vs XIU.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from WELL.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to WELL.TO and solid risk/return profiles. The least correlated is Extendicare Inc. (EXE.TO) (Healthcare) with a 1Y correlation of 0.05, down from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Extendicare Inc. | 0.05 | 0.17 | 0.24 | 97 | Healthcare | |
| Perseus Mining Limited | 0.07 | 0.07 | 0.12 | 70 | Basic Materials | |
| Great-West Lifeco Inc. | 0.08 | 0.10 | 0.16 | 95 | Financial Services | |
| Faraday Copper Corp. | 0.21 | 0.14 | 0.11 | 99 | Basic Materials | |
| Royal Bank of Canada | 0.21 | 0.23 | 0.25 | 97 | Financial Services |
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