Looking to balance out your exposure to DPM.TO? The ETFs below have the lowest correlation with DPM.TO — they tend to move on their own, which can help reduce risk when DPM.TO drops. The stock ideas table highlights individual companies that behave independently from DPM.TO.
Best Diversifiers for DPM.TO
2 ETFs have low correlation with DPM.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard S&P 500 Index ETF (VFV.TO) (S&P 500) with a 1Y correlation of 0.18, up from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 Index ETF | 0.18 | 0.08 | 0.07 | 74 | S&P 500 | DPM.TO vs VFV.TO | |
| iShares Core MSCI All Country World ex Canada Inde... | 0.28 | 0.16 | 0.15 | 76 | Global Equities | DPM.TO vs XAW.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from DPM.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to DPM.TO and solid risk/return profiles. The least correlated is Paramount Resources Ltd. (POU.TO) (Energy) with a 1Y correlation of -0.06, down from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Paramount Resources Ltd. | -0.06 | 0.09 | 0.16 | 85 | Energy | |
| Quebecor Inc | -0.03 | 0.03 | 0.08 | 96 | Communication Services | |
| Quebecor Inc | -0.00 | -0.00 | 0.05 | 96 | Communication Services | |
| Tamarack Valley Energy Ltd. | 0.01 | 0.15 | 0.18 | 99 | Energy | |
| Loblaw Companies Limited | 0.02 | 0.03 | 0.04 | 54 | Consumer Defensive |
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