Depends how literal you want to be with the story. There is plenty of evidence for Canaanite lineages in Egypt, and plenty of slavery, and plenty of migration. Once you start adding on enough details, though, you no longer find historical evidence (e.g. were the Canaanites Yaweh-worshippers, how did those who ended up as slaves get that way, was there a mass migration of slaves back to Canaan, etc.) or find contrary evidence.