Looking to diversify beyond PMIF-U.TO? The ETFs below have the lowest correlation with PMIF-U.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 PMIF-U.TO.
Best Diversifiers for PMIF-U.TO
7 ETFs have low correlation with PMIF-U.TO (below 0.3), 1 of which are negatively correlated. The least correlated is Ninepoint Energy ETF (NNRG.NEO) (Energy Equities) with a 1Y correlation of -0.15, up from -0.28 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Ninepoint Energy ETF | -0.15 | -0.16 | -0.28 | 83 | Energy Equities | PMIF-U.TO vs NNRG.NEO | |
| iShares S&P/TSX Composite High Dividend Index ETF | 0.11 | 0.16 | 0.09 | 98 | Canada Equities | PMIF-U.TO vs XEI.TO | |
| Fidelity U.S. Value ETF | 0.18 | 0.10 | -0.04 | 82 | Large Cap Value Equities | PMIF-U.TO vs FCUV.TO | |
| Dynamic Active Mining Opportunities ETF | 0.24 | — | — | 52 | Materials | PMIF-U.TO vs DXMO.TO | |
| BMO Low Volatility Canadian Equity ETF | 0.27 | 0.24 | 0.17 | 62 | Canada Equities | PMIF-U.TO vs ZLB.TO |
See all 10 diversifiers for PMIF-U.TO
To view more results, upgrade your current subscription plan.
Diversification Analysis
Build a portfolio that complements PMIF-U.TO
Add PMIF-U.TO to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with PMIF-U.TO