Looking to balance out your exposure to PMZ-UN.TO? The ETFs below have the lowest correlation with PMZ-UN.TO — they tend to move on their own, which can help reduce risk when PMZ-UN.TO drops. The stock ideas table highlights individual companies that behave independently from PMZ-UN.TO.
Best Diversifiers for PMZ-UN.TO
1 ETFs have low correlation with PMZ-UN.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard S&P 500 Index ETF (VFV.TO) (S&P 500) with a 1Y correlation of 0.21, roughly unchanged from 0.29 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 Index ETF | 0.21 | 0.23 | 0.29 | 78 | S&P 500 | PMZ-UN.TO vs VFV.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PMZ-UN.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PMZ-UN.TO and solid risk/return profiles. The least correlated is Brookfield Renewable Partners L.P (BEP-UN.TO) (Utilities) with a 1Y correlation of -0.01, down from 0.20 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Brookfield Renewable Partners L.P | -0.01 | 0.20 | — | 88 | Utilities | |
| RioCan Real Estate Investment Trust | 0.66 | 0.62 | 0.61 | 92 | Real Estate | |
| SmartCentres Real Estate Investment Trust | 0.72 | 0.66 | — | 84 | Real Estate |
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