Looking to balance out your exposure to BIP-UN.TO? The ETFs below have the lowest correlation with BIP-UN.TO — they tend to move on their own, which can help reduce risk when BIP-UN.TO drops. The stock ideas table highlights individual companies that behave independently from BIP-UN.TO.
Best Diversifiers for BIP-UN.TO
2 ETFs have low correlation with BIP-UN.TO (below 0.3), 0 of which are negatively correlated. The least correlated is iShares S&P/TSX Capped Utilities Index ETF (XUT.TO) (Utilities Equities) with a 1Y correlation of 0.24, down from 0.58 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares S&P/TSX Capped Utilities Index ETF | 0.24 | 0.58 | 0.58 | 84 | Utilities Equities | BIP-UN.TO vs XUT.TO | |
| iShares Core S&P/TSX Capped Composite Index ETF | 0.28 | 0.53 | 0.47 | 88 | Canada Equities | BIP-UN.TO vs XIC.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from BIP-UN.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to BIP-UN.TO and solid risk/return profiles. The least correlated is Hydro One Limited (H.TO) (Utilities) with a 1Y correlation of -0.13, down from 0.25 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Hydro One Limited | -0.13 | 0.22 | 0.25 | 90 | Utilities | |
| Fortis Inc. | -0.11 | 0.21 | 0.23 | 94 | Utilities | |
| Capital Power Corporation | -0.10 | 0.22 | 0.22 | 67 | Utilities | |
| AltaGas Ltd. | -0.09 | 0.15 | 0.20 | 93 | Utilities | |
| ARC Resources Ltd. | -0.09 | 0.11 | 0.14 | 67 | Energy |
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