Looking to diversify beyond PLTE.TO? The ETFs below have the lowest correlation with PLTE.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 PLTE.TO.
Best Diversifiers for PLTE.TO
22 ETFs have low correlation with PLTE.TO (below 0.3), 7 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Hamilton Utilities YIELD MAXIMIZER ETF | -0.23 | — | — | 58 | Derivative Income, Utilities Equities | PLTE.TO vs UMAX.TO | |
| BMO Covered Call Utilities ETF | -0.21 | — | — | 58 | Utilities Equities, Derivative Income | PLTE.TO vs ZWU.TO | |
| Harvest Equal Weight Global Utilities Enhanced Inc... | -0.11 | — | — | 58 | Derivative Income, Utilities Equities | PLTE.TO vs HUTE.TO | |
| Harvest Equal Weight Global Utilities Income ETF | -0.11 | — | — | 58 | Utilities Equities | PLTE.TO vs HUTL.TO | |
| Global X Enhanced Canadian Oil and Gas Equity Cove... | -0.09 | 0.04 | 0.04 | 85 | Oil & Gas, Derivative Income | PLTE.TO vs ENCL.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PLTE.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PLTE.TO and solid risk/return profiles.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Bombardier Inc | 0.19 | — | — | 98 | Industrials |
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