Looking to balance out your exposure to AP-UN.TO? The ETFs below have the lowest correlation with AP-UN.TO — they tend to move on their own, which can help reduce risk when AP-UN.TO drops. The stock ideas table highlights individual companies that behave independently from AP-UN.TO.
Best Diversifiers for AP-UN.TO
4 ETFs have low correlation with AP-UN.TO (below 0.3), 0 of which are negatively correlated. The least correlated is BMO S&P 500 Index ETF (ZSP.TO) (S&P 500) with a 1Y correlation of 0.22, down from 0.33 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BMO S&P 500 Index ETF | 0.22 | 0.30 | 0.33 | 72 | S&P 500 | AP-UN.TO vs ZSP.TO | |
| BMO S&P/TSX Capped Composite Index ETF | 0.24 | 0.47 | 0.48 | 80 | Canada Equities | AP-UN.TO vs ZCN.TO | |
| Vanguard FTSE Canadian High Dividend Yield Index E... | 0.27 | 0.45 | 0.45 | 98 | Dividend | AP-UN.TO vs VDY.TO | |
| iShares Core Equity ETF Portfolio | 0.28 | 0.44 | 0.45 | 75 | Global Equities | AP-UN.TO vs XEQT.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from AP-UN.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AP-UN.TO and solid risk/return profiles. The least correlated is Great-West Lifeco Inc. (GWO.TO) (Financial Services) with a 1Y correlation of 0.05, down from 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Great-West Lifeco Inc. | 0.05 | 0.16 | 0.21 | 95 | Financial Services | |
| Aritzia Inc. | 0.14 | 0.21 | 0.24 | 94 | Consumer Cyclical | |
| First Capital Real Estate Investment Trust | 0.21 | 0.46 | 0.50 | 91 | Real Estate | |
| SmartCentres Real Estate Investment Trust | 0.39 | 0.57 | 0.60 | 82 | Real Estate | |
| RioCan Real Estate Investment Trust | 0.40 | 0.57 | 0.58 | 91 | Real Estate |
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