Looking to balance out your exposure to POU.TO? The ETFs below have the lowest correlation with POU.TO — they tend to move on their own, which can help reduce risk when POU.TO drops. The stock ideas table highlights individual companies that behave independently from POU.TO.
Best Diversifiers for POU.TO
1 ETFs have low correlation with POU.TO (below 0.3), 0 of which are negatively correlated. The least correlated is iShares S&P/TSX Capped Utilities Index ETF (XUT.TO) (Utilities Equities) with a 1Y correlation of 0.01, roughly unchanged from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares S&P/TSX Capped Utilities Index ETF | 0.01 | 0.10 | 0.10 | 74 | Utilities Equities | POU.TO vs XUT.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from POU.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to POU.TO and solid risk/return profiles. The least correlated is Power Corporation of Canada (POW.TO) (Financial Services) with a 1Y correlation of -0.20, down from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Power Corporation of Canada | -0.20 | -0.03 | 0.14 | 95 | Financial Services | |
| Great-West Lifeco Inc. | -0.15 | -0.05 | 0.12 | 96 | Financial Services | |
| Kinross Gold Corporation | -0.14 | 0.06 | 0.14 | 78 | Basic Materials | |
| OceanaGold Corporation | -0.12 | 0.10 | 0.15 | 78 | Basic Materials | |
| Fortuna Silver Mines Inc. | -0.10 | 0.09 | 0.18 | 54 | Basic Materials |
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