Looking to balance out your exposure to PIF.TO? The ETFs below have the lowest correlation with PIF.TO — they tend to move on their own, which can help reduce risk when PIF.TO drops. The stock ideas table highlights individual companies that behave independently from PIF.TO.
Best Diversifiers for PIF.TO
1 ETFs have low correlation with PIF.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.TO) (Dividend) with a 1Y correlation of 0.25, roughly unchanged from 0.32 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard FTSE Canadian High Dividend Yield Index E... | 0.25 | 0.37 | 0.32 | 98 | Dividend | PIF.TO vs VDY.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PIF.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PIF.TO and solid risk/return profiles. The least correlated is Whitecap Resources Inc. (WCP.TO) (Energy) with a 1Y correlation of -0.02, down from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Whitecap Resources Inc. | -0.02 | 0.18 | 0.17 | 97 | Energy | |
| Capital Power Corporation | 0.23 | 0.26 | 0.26 | 70 | Utilities | |
| Northland Power Inc. | 0.28 | 0.32 | 0.30 | 55 | Utilities | |
| Brookfield Renewable Partners L.P | 0.32 | 0.34 | 0.33 | 88 | Utilities |
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