Looking to balance out your exposure to KMP-UN.TO? The ETFs below have the lowest correlation with KMP-UN.TO — they tend to move on their own, which can help reduce risk when KMP-UN.TO drops. The stock ideas table highlights individual companies that behave independently from KMP-UN.TO.
Best Diversifiers for KMP-UN.TO
1 ETFs have low correlation with KMP-UN.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 0.19, down from 0.33 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 Index ETF | 0.19 | 0.27 | 0.33 | 79 | S&P 500 | KMP-UN.TO vs VFV.TO | |
| iShares S&P/TSX 60 Index ETF | 0.30 | 0.41 | 0.47 | 92 | Canada Equities | KMP-UN.TO vs XIU.TO | |
| Vanguard FTSE Canada Index ETF | 0.30 | 0.41 | 0.46 | 88 | Canada Equities | KMP-UN.TO vs VCE.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from KMP-UN.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to KMP-UN.TO and solid risk/return profiles. The least correlated is Great-West Lifeco Inc. (GWO.TO) (Financial Services) with a 1Y correlation of 0.16, roughly unchanged from 0.25 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Great-West Lifeco Inc. | 0.16 | 0.17 | 0.25 | 99 | Financial Services | |
| Granite Real Estate Investment Trust | 0.42 | 0.51 | 0.58 | 91 | Real Estate | |
| CT Real Estate Investment Trust | 0.45 | 0.59 | 0.64 | 92 | Real Estate | |
| First Capital Real Estate Investment Trust | 0.47 | 0.59 | 0.63 | 91 | Real Estate | |
| SmartCentres Real Estate Investment Trust | 0.55 | 0.65 | 0.68 | 93 | Real Estate |
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