Looking to balance out your exposure to PD.TO? The ETFs below have the lowest correlation with PD.TO — they tend to move on their own, which can help reduce risk when PD.TO drops. The stock ideas table highlights individual companies that behave independently from PD.TO.
Best Diversifiers for PD.TO
1 ETFs have low correlation with PD.TO (below 0.3), 0 of which are negatively correlated. The least correlated is iShares Core Equity ETF Portfolio (XEQT.TO) (Global Equities) with a 1Y correlation of 0.02, down from 0.27 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Core Equity ETF Portfolio | 0.02 | 0.24 | 0.27 | 80 | Global Equities | PD.TO vs XEQT.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PD.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PD.TO and solid risk/return profiles. The least correlated is Power Corporation of Canada (POW.TO) (Financial Services) with a 1Y correlation of -0.27, down from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Power Corporation of Canada | -0.27 | -0.03 | 0.10 | 94 | Financial Services | |
| Hudbay Minerals Inc. | -0.04 | 0.24 | 0.31 | 95 | Basic Materials | |
| Trican Well Service Ltd. | 0.51 | 0.53 | 0.57 | 89 | Energy | |
| Cenovus Energy Inc. | 0.63 | 0.67 | 0.67 | 97 | Energy |
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