Looking to diversify beyond PLDI.TO? The ETFs below have the lowest correlation with PLDI.TO — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from PLDI.TO.
Best Diversifiers for PLDI.TO
2 ETFs have low correlation with PLDI.TO (below 0.3), 1 of which are negatively correlated. The least correlated is BMO Money Market Fund ETF Series (ZMMK.TO) (Money Market) with a 1Y correlation of -0.07, roughly unchanged from 0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BMO Money Market Fund ETF Series | -0.07 | -0.02 | 0.02 | 100 | Money Market | PLDI.TO vs ZMMK.TO | |
| iShares Core Equity ETF Portfolio | 0.08 | 0.11 | 0.05 | 80 | Global Equities | PLDI.TO vs XEQT.TO | |
| PIMCO Monthly Income Fund (Canada) | 0.34 | 0.32 | 0.27 | 51 | PLDI.TO vs PMIF.TO | ||
| BMO Short Corporate Bond Index ETF | 0.35 | 0.25 | 0.23 | 56 | Canadian Government Bonds | PLDI.TO vs ZCS.TO |
Diversification Analysis
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