Looking to balance out your exposure to PHYS.TO? The ETFs below have the lowest correlation with PHYS.TO — they tend to move on their own, which can help reduce risk when PHYS.TO drops. The stock ideas table highlights individual companies that behave independently from PHYS.TO.
Best Diversifiers for PHYS.TO
12 ETFs have low correlation with PHYS.TO (below 0.3), 2 of which are negatively correlated. The least correlated is Global X S&P/TSX Capped Energy Index Corporate Class ETF (HXE.TO) (Energy Equities) with a 1Y correlation of -0.07, roughly unchanged from -0.00 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X S&P/TSX Capped Energy Index Corporate Cla... | -0.07 | 0.06 | -0.00 | 77 | Energy Equities | PHYS.TO vs HXE.TO | |
| iShares S&P/TSX Capped Energy Index ETF | -0.01 | 0.09 | 0.00 | 78 | Energy Equities, Canada Equities | PHYS.TO vs XEG.TO | |
| iShares Core MSCI Canadian Quality Dividend Index ... | 0.12 | 0.09 | 0.01 | 98 | Dividend, Large Cap Value Equities | PHYS.TO vs XDIV.TO | |
| Vanguard FTSE Canadian High Dividend Yield Index E... | 0.16 | 0.11 | -0.01 | 99 | Dividend | PHYS.TO vs VDY.TO | |
| Hamilton Enhanced Canadian Bank ETF | 0.18 | 0.09 | -0.03 | 98 | Financials Equities, Canada Equities, Leveraged Equities | PHYS.TO vs HCAL.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PHYS.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PHYS.TO and solid risk/return profiles. The least correlated is Enbridge Inc. (ENB.TO) (Energy) with a 1Y correlation of 0.02, roughly unchanged from 0.00 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Enbridge Inc. | 0.02 | 0.04 | 0.00 | 91 | Energy | |
| Canadian Pacific Railway Limited | 0.15 | 0.06 | -0.02 | 66 | Industrials | |
| Brookfield Corporation | 0.18 | 0.09 | 0.00 | 87 | Financial Services | |
| Sprott Inc | 0.60 | 0.51 | 0.42 | 76 | Financial Services | |
| Sprott Physical Silver Trust | 0.75 | 0.68 | 0.68 | 69 | Basic Materials |
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