Looking to diversify beyond PAYG.TO? The ETFs below have the lowest correlation with PAYG.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 PAYG.TO.
Best Diversifiers for PAYG.TO
0 ETFs have low correlation with PAYG.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Hamilton Enhanced Canadian Covered Call ETF (HDIV.TO) (Derivative Income) with a 1Y correlation of 0.72, roughly unchanged from 0.72 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Hamilton Enhanced Canadian Covered Call ETF | 0.72 | 0.72 | 0.72 | 92 | Derivative Income | PAYG.TO vs HDIV.TO |
Diversification Analysis
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