Looking to balance out your exposure to PGIC.TO? The ETFs below have the lowest correlation with PGIC.TO — they tend to move on their own, which can help reduce risk when PGIC.TO drops. The stock ideas table highlights individual companies that behave independently from PGIC.TO.
Best Diversifiers for PGIC.TO
5 ETFs have low correlation with PGIC.TO (below 0.3), 0 of which are negatively correlated. The least correlated is BMO Laddered Preferred Share Index ETF (ZPR.TO) (Preferred Stock/Convertible Bonds) with a 1Y correlation of 0.13, roughly unchanged from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BMO Laddered Preferred Share Index ETF | 0.13 | 0.06 | 0.09 | 97 | Preferred Stock/Convertible Bonds | PGIC.TO vs ZPR.TO | |
| iShares S&P/TSX Canadian Preferred Share Index ETF | 0.16 | 0.06 | 0.09 | 94 | Preferred Stock/Convertible Bonds | PGIC.TO vs CPD.TO | |
| RBC Canadian Dividend Covered Call ETF | 0.22 | 0.11 | — | 96 | Derivative Income | PGIC.TO vs RCDC.TO | |
| Global X All-Equity Asset Allocation Covered Call ... | 0.22 | — | — | 83 | Derivative Income | PGIC.TO vs EQCC.TO | |
| Purpose Enhanced Dividend Fund ETF | 0.27 | 0.04 | 0.10 | 92 | Dividend | PGIC.TO vs PDIV.TO |
See all 7 diversifiers for PGIC.TO
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