Looking to diversify beyond XMM.TO? The ETFs below have historically moved differently from XMM.TO, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for XMM.TO
3 ETFs have low correlation with XMM.TO (below 0.3), 0 of which are negatively correlated. The least correlated is iShares S&P/TSX Composite High Dividend Index ETF (XEI.TO) (Canada Equities) with a 1Y correlation of 0.06, down from 0.17 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares S&P/TSX Composite High Dividend Index ETF | 0.06 | 0.15 | 0.17 | 98 | Canada Equities | XMM.TO vs XEI.TO | |
| iShares Core MSCI Canadian Quality Dividend Index ... | 0.17 | 0.21 | 0.21 | 98 | Quality Factor, Dividend, Large Cap Value Equities | XMM.TO vs XDIV.TO | |
| iShares Core MSCI Global Quality Dividend Index ET... | 0.25 | 0.26 | 0.32 | 84 | Quality Factor, Global Equities | XMM.TO vs XDG.TO | |
| iShares S&P/TSX 60 Index ETF | 0.38 | 0.30 | 0.31 | 93 | Canada Equities | XMM.TO vs XIU.TO | |
| iShares Core S&P/TSX Capped Composite Index ETF | 0.40 | 0.31 | 0.32 | 91 | Canada Equities | XMM.TO vs XIC.TO |
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