Looking to balance out your exposure to BEP-UN.TO? The ETFs below have historically moved differently from BEP-UN.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 BEP-UN.TO
9 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 -0.08, roughly unchanged from -0.00 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Purpose Cash Management Fund | -0.08 | -0.00 | — | 100 | Money Market | BEP-UN.TO vs MNY.TO | |
| iShares S&P/TSX Capped Energy Index ETF | 0.04 | 0.13 | 0.10 | 89 | Energy Equities, Canada Equities | BEP-UN.TO vs XEG.TO | |
| iShares Core MSCI Canadian Quality Dividend Index ... | 0.07 | 0.29 | 0.26 | 98 | Quality Factor, Dividend, Large Cap Value Equities | BEP-UN.TO vs XDIV.TO | |
| iShares S&P/TSX Composite High Dividend Index ETF | 0.12 | 0.36 | 0.31 | 98 | Canada Equities | BEP-UN.TO vs XEI.TO | |
| Global X High Interest Savings ETF | 0.15 | 0.05 | — | 100 | Money Market | BEP-UN.TO vs CASH.TO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for BEP-UN.TO, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Fortis Inc. (FTS.TO) (Utilities) with a 1Y correlation of -0.19, down from 0.17 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Fortis Inc. | -0.19 | 0.15 | 0.17 | 87 | Utilities | |
| Emera Incorporated | -0.12 | 0.17 | 0.19 | 86 | Utilities | |
| Enbridge Inc. | -0.10 | 0.12 | 0.14 | 87 | Energy | |
| Primaris Real Estate Investment Trust | -0.03 | 0.18 | — | 99 | Real Estate | |
| SmartCentres Real Estate Investment Trust | -0.03 | 0.25 | 0.26 | 92 | Real Estate |
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