Looking to diversify beyond MNY.TO? The ETFs below have historically moved differently from MNY.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 MNY.TO
33 ETFs have low correlation with MNY.TO (below 0.3), 14 of which are negatively correlated. The least correlated is Purpose Strategic Yield Fund (SYLD.TO) (High Yield Bonds) with a 1Y correlation of -0.11, down from 0.03 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Purpose Strategic Yield Fund | -0.11 | 0.03 | — | 95 | High Yield Bonds, Corporate Bonds | MNY.TO vs SYLD.TO | |
| Vanguard FTSE Canadian High Dividend Yield Index E... | -0.09 | -0.00 | — | 99 | Dividend | MNY.TO vs VDY.TO | |
| Purpose Diversified Real Asset Fund | -0.07 | -0.02 | — | 95 | Diversified Portfolio, Global Allocation, Natural Resources, Actively Managed | MNY.TO vs PRA.TO | |
| Purpose Multi-Asset Income Fund | -0.06 | 0.01 | — | 97 | Derivative Income, Dividend, Tactical Allocation, Diversified Portfolio | MNY.TO vs PINC.TO | |
| Dynamic Active Ultra Short Term Bond ETF | -0.06 | 0.05 | — | 88 | Ultrashort Bond, Corporate Bonds, Actively Managed | MNY.TO vs DXV.TO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for MNY.TO, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Brookfield Renewable Partners L.P (BEP-UN.TO) (Utilities) with a 1Y correlation of -0.08, roughly unchanged from -0.00 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Brookfield Renewable Partners L.P | -0.08 | -0.00 | — | 72 | Utilities | |
| Emera Incorporated | -0.00 | 0.06 | 0.07 | 86 | Utilities |
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