Looking to diversify beyond PAYF.TO? The ETFs below have the lowest correlation with PAYF.TO — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from PAYF.TO.
Best Diversifiers for PAYF.TO
4 ETFs have low correlation with PAYF.TO (below 0.3), 0 of which are negatively correlated. The least correlated is BMO Covered Call Utilities ETF (ZWU.TO) (Utilities Equities) with a 1Y correlation of 0.03, down from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BMO Covered Call Utilities ETF | 0.03 | 0.18 | 0.22 | 58 | Utilities Equities, Derivative Income | PAYF.TO vs ZWU.TO | |
| Purpose Credit Opportunities Fund | 0.08 | 0.17 | 0.25 | 94 | PAYF.TO vs CROP.TO | ||
| Purpose Strategic Yield Fund | 0.14 | 0.16 | 0.18 | 95 | PAYF.TO vs SYLD.TO | ||
| Purpose Multi-Strategy Market Neutral Fund | 0.25 | 0.25 | 0.21 | 64 | Long-Short | PAYF.TO vs PMM.TO | |
| BMO CA High Dividend Covered Call ETF | 0.36 | 0.39 | 0.41 | 92 | Derivative Income | PAYF.TO vs ZWC.TO |
See all 7 diversifiers for PAYF.TO
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