Looking to diversify beyond PMIF.TO? The ETFs below have the lowest correlation with PMIF.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.TO.
Best Diversifiers for PMIF.TO
14 ETFs have low correlation with PMIF.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 -0.36, down from -0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Ninepoint Energy ETF | -0.36 | -0.09 | -0.02 | 79 | Energy Equities | PMIF.TO vs NNRG.NEO | |
| Global X High Interest Savings ETF | 0.02 | 0.05 | — | 100 | Money Market | PMIF.TO vs CASH.TO | |
| Global X 0-3 Month T-Bill ETF | 0.03 | 0.06 | — | 99 | Canadian Government Bonds | PMIF.TO vs CBIL.TO | |
| iShares S&P/TSX Composite High Dividend Index ETF | 0.05 | 0.18 | 0.16 | 98 | Canada Equities | PMIF.TO vs XEI.TO | |
| BMO Laddered Preferred Share Index ETF | 0.13 | 0.14 | 0.13 | 97 | Preferred Stock/Convertible Bonds | PMIF.TO vs ZPR.TO |
See all 23 diversifiers for PMIF.TO
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