Looking to balance out your exposure to PDV.TO? The ETFs below have historically moved differently from PDV.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 PDV.TO
1 ETFs have low correlation with PDV.TO (below 0.3), 0 of which are negatively correlated. The least correlated is BMO Europe High Dividend Covered Call Hedged to CAD ETF (ZWE.TO) (Europe Equities) with a 1Y correlation of 0.13, roughly unchanged from 0.14 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BMO Europe High Dividend Covered Call Hedged to CA... | 0.13 | 0.19 | 0.14 | 63 | Europe Equities, Derivative Income, Dividend | PDV.TO vs ZWE.TO |
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