Looking to balance out your exposure to BPF-UN.TO? The ETFs below have the lowest correlation with BPF-UN.TO — they tend to move on their own, which can help reduce risk when BPF-UN.TO drops. The stock ideas table highlights individual companies that behave independently from BPF-UN.TO.
Best Diversifiers for BPF-UN.TO
2 ETFs have low correlation with BPF-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 0.14, down from 0.26 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares S&P/TSX Capped Utilities Index ETF | 0.14 | 0.29 | 0.26 | 82 | Utilities Equities | BPF-UN.TO vs XUT.TO | |
| Vanguard FTSE Canadian High Dividend Yield Index E... | 0.22 | 0.39 | 0.46 | 99 | Dividend | BPF-UN.TO vs VDY.TO | |
| Hamilton Canadian Financials Yield Maximizer ETF | 0.33 | 0.42 | — | 96 | Derivative Income | BPF-UN.TO vs HMAX.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from BPF-UN.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to BPF-UN.TO and solid risk/return profiles. The least correlated is Paramount Resources Ltd. (POU.TO) (Energy) with a 1Y correlation of -0.13, down from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Paramount Resources Ltd. | -0.13 | 0.08 | 0.20 | 80 | Energy | |
| Enbridge Inc. | -0.06 | 0.14 | 0.24 | 92 | Energy | |
| Keyera Corp. | -0.03 | 0.15 | 0.24 | 88 | Energy | |
| Loblaw Companies Limited | 0.08 | 0.11 | 0.09 | 71 | Consumer Defensive | |
| Celestica Inc. | 0.14 | 0.19 | 0.25 | 85 | Technology |
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