Looking to diversify beyond PFAE.TO? The ETFs below have the lowest correlation with PFAE.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 PFAE.TO.
Best Diversifiers for PFAE.TO
0 ETFs have low correlation with PFAE.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard FTSE Developed ex North America High Dividend Yield Index ETF (VIDY.TO) (Foreign Large Cap Equities) with a 1Y correlation of 0.49, up from 0.38 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard FTSE Developed ex North America High Divi... | 0.49 | 0.37 | 0.38 | 64 | Foreign Large Cap Equities, Dividend | PFAE.TO vs VIDY.TO | |
| TD U.S. Equity Index ETF | 0.58 | 0.42 | 0.40 | 77 | Large Cap Blend Equities | PFAE.TO vs TPU.TO | |
| Picton Mahoney Fortified Long Short Alternative Fu... | 0.68 | 0.40 | 0.46 | 55 | PFAE.TO vs PFLS.TO | ||
| iShares S&P/TSX 60 Index ETF | 0.74 | 0.51 | 0.55 | 87 | Canada Equities | PFAE.TO vs XIU.TO | |
| Global X S&P/TSX 60 Corporate Class ETF | 0.75 | 0.51 | 0.55 | 87 | Canada Equities | PFAE.TO vs HXT.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PFAE.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PFAE.TO and solid risk/return profiles. The least correlated is ATCO Ltd (ACO-X.TO) (Utilities) with a 1Y correlation of -0.05, down from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| ATCO Ltd | -0.05 | 0.07 | 0.08 | 93 | Utilities | |
| Enbridge Inc. | -0.02 | 0.14 | 0.22 | 85 | Energy | |
| Emera Incorporated | 0.10 | 0.14 | 0.15 | 89 | Utilities |
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