Looking to balance out your exposure to PPL.TO? The ETFs below have the lowest correlation with PPL.TO — they tend to move on their own, which can help reduce risk when PPL.TO drops. The stock ideas table highlights individual companies that behave independently from PPL.TO.
Best Diversifiers for PPL.TO
8 ETFs have low correlation with PPL.TO (below 0.3), 4 of which are negatively correlated. The least correlated is iShares Canadian Financial Monthly Income ETF (FIE.TO) (Canada Equities) with a 1Y correlation of -0.08, down from 0.34 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Canadian Financial Monthly Income ETF | -0.08 | 0.24 | 0.34 | 94 | Canada Equities | PPL.TO vs FIE.TO | |
| Vanguard FTSE Developed All Cap Ex US | -0.08 | 0.24 | 0.33 | 78 | Global Equities | PPL.TO vs VEF.TO | |
| Hamilton Canadian Financials YIELD MAXIMIZER ETF | -0.07 | 0.27 | — | 93 | Derivative Income | PPL.TO vs HMAX.TO | |
| Dynamic Active Mining Opportunities ETF | -0.05 | 0.04 | 0.04 | 52 | Materials | PPL.TO vs DXMO.TO | |
| CI WisdomTree Japan Equity Index ETF | 0.04 | 0.15 | 0.14 | 88 | Japan Equities | PPL.TO vs JAPN.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PPL.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PPL.TO and solid risk/return profiles. The least correlated is Exchange Income Corporation (EIF.TO) (Industrials) with a 1Y correlation of -0.19, down from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Exchange Income Corporation | -0.19 | 0.11 | 0.20 | 98 | Industrials | |
| Power Corporation of Canada | -0.19 | 0.06 | 0.20 | 94 | Financial Services | |
| The Bank of Nova Scotia | -0.11 | 0.17 | 0.27 | 96 | Financial Services | |
| Canadian Imperial Bank of Commerce | -0.08 | 0.20 | 0.28 | 97 | Financial Services | |
| Cameco Corporation | -0.07 | 0.16 | 0.26 | 84 | Energy |
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