Looking to diversify beyond XMV.TO? The ETFs below have the lowest correlation with XMV.TO — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from XMV.TO.
Best Diversifiers for XMV.TO
4 ETFs have low correlation with XMV.TO (below 0.3), 1 of which are negatively correlated. The least correlated is iShares Floating Rate Index ETF (XFR.TO) (Canadian Government Bonds) with a 1Y correlation of -0.01, roughly unchanged from 0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Floating Rate Index ETF | -0.01 | 0.00 | 0.01 | 98 | Canadian Government Bonds | XMV.TO vs XFR.TO | |
| Global X High Interest Savings ETF | 0.06 | 0.04 | — | 100 | Money Market | XMV.TO vs CASH.TO | |
| BMO Money Market Fund ETF Series | 0.09 | 0.07 | 0.05 | 100 | Money Market | XMV.TO vs ZMMK.TO | |
| Global X Enhanced Nasdaq-100 Index ETF | 0.17 | — | — | 84 | Nasdaq-100, Leveraged Equities | XMV.TO vs QQQL.TO | |
| Horizons NASDAQ-100 Index ETF | 0.31 | 0.36 | 0.40 | 75 | Nasdaq-100 | XMV.TO vs HXQ.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from XMV.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to XMV.TO and solid risk/return profiles. The least correlated is Power Corporation of Canada (POW.TO) (Financial Services) with a 1Y correlation of 0.31, down from 0.48 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Power Corporation of Canada | 0.31 | 0.40 | 0.48 | 94 | Financial Services |
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