Looking to balance out your exposure to PIF.TO? The ETFs below have historically moved differently from PIF.TO, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
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 0.20, down from 0.32 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard FTSE Canadian High Dividend Yield Index E... | 0.20 | 0.36 | 0.32 | 99 | Dividend | PIF.TO vs VDY.TO |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PIF.TO, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Whitecap Resources Inc. (WCP.TO) (Energy) with a 1Y correlation of -0.03, down from 0.17 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Whitecap Resources Inc. | -0.03 | 0.17 | 0.17 | 93 | Energy | |
| Capital Power Corporation | 0.21 | 0.26 | 0.26 | 62 | Utilities | |
| Brookfield Renewable Partners L.P | 0.28 | 0.32 | 0.33 | 73 | Utilities |
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