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
1 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 0.21, up from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 Index ETF | 0.21 | 0.10 | 0.08 | 75 | S&P 500 | DPM.TO vs VFV.TO | |
| iShares Core MSCI All Country World ex Canada Inde... | 0.32 | 0.17 | 0.15 | 81 | 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 Quebecor Inc (QBR-B.TO) (Communication Services) with a 1Y correlation of -0.05, down from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Quebecor Inc | -0.05 | 0.04 | 0.08 | 94 | Communication Services | |
| Paramount Resources Ltd. | -0.05 | 0.09 | 0.16 | 72 | Energy | |
| Quebecor Inc | -0.02 | -0.00 | 0.05 | 90 | Communication Services | |
| Loblaw Companies Limited | -0.00 | 0.02 | 0.03 | 67 | Consumer Defensive | |
| Tamarack Valley Energy Ltd. | 0.01 | 0.15 | 0.18 | 98 | Energy |
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