Looking to balance out your exposure to BEP-UN.TO? The ETFs below have the lowest correlation with BEP-UN.TO — they tend to move on their own, which can help reduce risk when BEP-UN.TO drops. The stock ideas table highlights individual companies that behave independently from BEP-UN.TO.
Best Diversifiers for BEP-UN.TO
12 ETFs have low correlation with BEP-UN.TO (below 0.3), 1 of which are negatively correlated. The least correlated is Purpose Cash Management Fund (MNY.TO) (Money Market) with a 1Y correlation of -0.04, roughly unchanged from 0.01 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Purpose Cash Management Fund | -0.04 | 0.01 | — | 100 | Money Market | BEP-UN.TO vs MNY.TO | |
| iShares S&P/TSX Capped Energy Index ETF | 0.02 | 0.13 | 0.10 | 64 | Energy Equities, Canada Equities | BEP-UN.TO vs XEG.TO | |
| iShares Core MSCI Canadian Quality Dividend Index ... | 0.07 | 0.31 | 0.27 | 98 | Dividend, Large Cap Value Equities | BEP-UN.TO vs XDIV.TO | |
| Global X High Interest Savings ETF | 0.12 | 0.05 | 0.06 | 99 | Money Market | BEP-UN.TO vs CASH.TO | |
| iShares S&P/TSX Composite High Dividend Index ETF | 0.13 | 0.38 | 0.31 | 97 | Canada Equities | BEP-UN.TO vs XEI.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from BEP-UN.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to BEP-UN.TO and solid risk/return profiles. The least correlated is Fortis Inc. (FTS.TO) (Utilities) with a 1Y correlation of -0.20, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Fortis Inc. | -0.20 | 0.17 | 0.18 | 92 | Utilities | |
| Emera Incorporated | -0.14 | 0.19 | 0.20 | 89 | Utilities | |
| Enbridge Inc. | -0.11 | 0.13 | 0.15 | 88 | Energy | |
| SmartCentres Real Estate Investment Trust | -0.03 | 0.27 | 0.27 | 91 | Real Estate | |
| Primaris Real Estate Investment Trust | -0.03 | 0.20 | — | 98 | Real Estate |
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