Looking to balance out your exposure to POW.TO? The ETFs below have the lowest correlation with POW.TO — they tend to move on their own, which can help reduce risk when POW.TO drops. The stock ideas table highlights individual companies that behave independently from POW.TO.
Best Diversifiers for POW.TO
31 ETFs have low correlation with POW.TO (below 0.3), 3 of which are negatively correlated. The least correlated is Global X High Interest Savings ETF (CASH.TO) (Money Market) with a 1Y correlation of -0.13, roughly unchanged from -0.05 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X High Interest Savings ETF | -0.13 | -0.05 | — | 100 | Money Market | POW.TO vs CASH.TO | |
| Global X Cash Maximizer Corporate Class ETF | -0.04 | 0.01 | 0.01 | 66 | Bank Loan | POW.TO vs HSAV.TO | |
| iShares S&P/TSX Composite High Dividend Index ETF | -0.03 | 0.26 | 0.41 | 98 | Canada Equities | POW.TO vs XEI.TO | |
| Vanguard FTSE Canadian High Dividend Yield Index E... | 0.10 | 0.31 | 0.44 | 98 | Dividend | POW.TO vs VDY.TO | |
| iShares S&P/TSX Capped Utilities Index ETF | 0.11 | 0.27 | 0.28 | 84 | Utilities Equities | POW.TO vs XUT.TO |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from POW.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to POW.TO and solid risk/return profiles. The least correlated is Canadian Natural Resources Limited (CNQ.TO) (Energy) with a 1Y correlation of -0.34, down from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Canadian Natural Resources Limited | -0.34 | -0.07 | 0.11 | 86 | Energy | |
| Precision Drilling Corporation | -0.27 | -0.03 | 0.10 | 93 | Energy | |
| Tamarack Valley Energy Ltd. | -0.24 | -0.04 | 0.11 | 99 | Energy | |
| Freehold Royalties Ltd. | -0.21 | -0.01 | 0.14 | 93 | Energy | |
| Paramount Resources Ltd. | -0.20 | -0.03 | 0.14 | 85 | Energy |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements POW.TO
Add POW.TO to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with POW.TO