Looking to balance out your exposure to PHX.TO? The ETFs below have the lowest correlation with PHX.TO — they tend to move on their own, which can help reduce risk when PHX.TO drops. The stock ideas table highlights individual companies that behave independently from PHX.TO.
Best Diversifiers for PHX.TO
1 ETFs have low correlation with PHX.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 0.06, down from 0.26 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Core Equity ETF Portfolio | 0.06 | 0.24 | 0.26 | 80 | Global Equities | PHX.TO vs XEQT.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PHX.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PHX.TO and solid risk/return profiles. The least correlated is SmartCentres Real Estate Investment Trust (SRU-UN.TO) (Real Estate) with a 1Y correlation of -0.04, down from 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| SmartCentres Real Estate Investment Trust | -0.04 | 0.11 | 0.21 | 84 | Real Estate | |
| Pembina Pipeline Corporation | 0.28 | 0.34 | 0.41 | 85 | Energy |
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