Looking to balance out your exposure to PLZ-UN.TO? The ETFs below have the lowest correlation with PLZ-UN.TO — they tend to move on their own, which can help reduce risk when PLZ-UN.TO drops. The stock ideas table highlights individual companies that behave independently from PLZ-UN.TO.
Best Diversifiers for PLZ-UN.TO
6 ETFs have low correlation with PLZ-UN.TO (below 0.3), 0 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Hamilton EnhancedTechnology DayMAX™ ETF | 0.05 | — | — | 50 | Derivative Income | PLZ-UN.TO vs QDAY.NEO | |
| Vanguard S&P 500 Index ETF | 0.18 | 0.18 | 0.23 | 68 | S&P 500 | PLZ-UN.TO vs VFV.TO | |
| iShares Core Equity ETF Portfolio | 0.22 | 0.26 | 0.31 | 80 | Global Equities | PLZ-UN.TO vs XEQT.TO | |
| Hamilton Enhanced U.S. Equity DayMAX™ ETF | 0.23 | — | — | 64 | Derivative Income | PLZ-UN.TO vs SDAY.NEO | |
| iShares Core S&P/TSX Capped Composite Index ETF | 0.26 | 0.31 | 0.37 | 87 | Canada Equities | PLZ-UN.TO vs XIC.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PLZ-UN.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PLZ-UN.TO and solid risk/return profiles. The least correlated is Brookfield Infrastructure Partners L.P. (BIP-UN.TO) (Utilities) with a 1Y correlation of 0.07, down from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Brookfield Infrastructure Partners L.P. | 0.07 | 0.21 | 0.19 | 84 | Utilities | |
| Canadian National Railway Company | 0.13 | 0.21 | 0.22 | 84 | Industrials | |
| Chartwell Retirement Residences | 0.27 | 0.23 | 0.25 | 82 | Real Estate | |
| Choice Properties Real Estate Investment Trust | 0.31 | 0.30 | 0.33 | 76 | Real Estate | |
| SmartCentres Real Estate Investment Trust | 0.44 | 0.38 | 0.41 | 92 | Real Estate |
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