Looking to diversify beyond ETHY.TO? The ETFs below have historically moved differently from ETHY.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 ETHY.TO
7 ETFs have low correlation with ETHY.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 -0.02, roughly unchanged from 0.04 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Purpose Cash Management Fund | -0.02 | 0.02 | 0.04 | 100 | Money Market | ETHY.TO vs MNY.TO | |
| Purpose High Interest Savings Fund | 0.05 | 0.05 | 0.03 | 100 | Money Market | ETHY.TO vs PSA.TO | |
| Purpose Multi-Strategy Market Neutral Fund | 0.17 | 0.12 | 0.12 | 68 | Equity Market Neutral, Multistrategy, Actively Managed | ETHY.TO vs PMM.TO | |
| iShares S&P/TSX Canadian Preferred Share Index ETF | 0.21 | 0.14 | — | 94 | Preferred Stock | ETHY.TO vs CPD.TO | |
| BMO Laddered Preferred Share Index ETF | 0.22 | 0.13 | — | 97 | Preferred Stock | ETHY.TO vs ZPR.TO |
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