Looking to balance out your exposure to NPI.TO? The ETFs below have historically moved differently from NPI.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 NPI.TO
5 ETFs have low correlation with NPI.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Purpose Cash Management Fund (MNY.TO) (Money Market) with a 1Y correlation of 0.05, roughly unchanged from 0.04 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Purpose Cash Management Fund | 0.05 | 0.04 | — | 100 | Money Market | NPI.TO vs MNY.TO | |
| BMO S&P 500 Index ETF | 0.09 | 0.15 | 0.19 | 71 | S&P 500 | NPI.TO vs ZSP.TO | |
| Vanguard FTSE Canadian High Dividend Yield Index E... | 0.14 | 0.25 | 0.24 | 99 | Dividend | NPI.TO vs VDY.TO | |
| Hamilton Enhanced U.S. Covered Call ETF | 0.14 | 0.21 | — | 68 | Derivative Income | NPI.TO vs HYLD.TO | |
| Global X High Interest Savings ETF | 0.17 | 0.01 | — | 100 | Money Market | NPI.TO vs CASH.TO |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for NPI.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 Enbridge Inc. (ENB.TO) (Energy) with a 1Y correlation of -0.01, down from 0.16 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Enbridge Inc. | -0.01 | 0.09 | 0.16 | 87 | Energy | |
| Paramount Resources Ltd. | 0.01 | 0.11 | 0.10 | 80 | Energy | |
| Emera Incorporated | 0.04 | 0.19 | 0.24 | 86 | Utilities | |
| Peyto Exploration & Development Corp. | 0.04 | 0.12 | 0.11 | 81 | Energy | |
| National Bank of Canada | 0.05 | 0.13 | 0.14 | 98 | Financial Services |
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