Looking to diversify beyond PRA.TO? The ETFs below have the lowest correlation with PRA.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 PRA.TO.
Best Diversifiers for PRA.TO
7 ETFs have low correlation with PRA.TO (below 0.3), 2 of which are negatively correlated. The least correlated is IA Clarington Strategic Income Fund (ISIF.TO) (Diversified Portfolio) with a 1Y correlation of -0.04, down from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| IA Clarington Strategic Income Fund | -0.04 | 0.03 | 0.09 | 73 | Diversified Portfolio | PRA.TO vs ISIF.TO | |
| iShares Core Canadian Short Term Bond Index ETF | -0.04 | 0.02 | 0.04 | 64 | Short-Term Bond, Canadian Government Bonds | PRA.TO vs XSB.TO | |
| iShares Core S&P 500 Index ETF | 0.22 | 0.24 | 0.28 | 74 | S&P 500 | PRA.TO vs XUS.TO | |
| iShares Core Balanced ETF Portfolio | 0.27 | 0.33 | 0.37 | 68 | Diversified Portfolio | PRA.TO vs XBAL.TO | |
| iShares Core Conservative Balanced ETF Portfolio | 0.27 | 0.30 | 0.31 | 73 | Diversified Portfolio | PRA.TO vs XCNS.TO |
See all 19 diversifiers for PRA.TO
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