Looking to diversify beyond PSA.TO? The ETFs below have historically moved differently from PSA.TO, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for PSA.TO
63 ETFs have low correlation with PSA.TO (below 0.3), 10 of which are negatively correlated. The least correlated is BMO Ultra Short-Term Bond ETF (ZST.TO) (Ultrashort Bond) with a 1Y correlation of -0.15, down from 0.11 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BMO Ultra Short-Term Bond ETF | -0.15 | 0.12 | 0.11 | 61 | Ultrashort Bond | PSA.TO vs ZST.TO | |
| Global X USD High Interest Savings ETF | -0.11 | — | — | 100 | Money Market | PSA.TO vs UCSH-U.TO | |
| Purpose Multi-Strategy Market Neutral Fund | -0.05 | 0.04 | 0.08 | 68 | Equity Market Neutral, Multistrategy, Actively Managed | PSA.TO vs PMM.TO | |
| Purpose Diversified Real Asset Fund | -0.05 | 0.01 | 0.00 | 95 | Diversified Portfolio, Global Allocation, Natural Resources, Actively Managed | PSA.TO vs PRA.TO | |
| BMO Money Market Fund ETF Series | -0.03 | 0.00 | — | 99 | Money Market | PSA.TO vs ZMMK.TO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PSA.TO, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Canadian Natural Resources Limited (CNQ.TO) (Energy) with a 1Y correlation of 0.01, roughly unchanged from 0.02 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Canadian Natural Resources Limited | 0.01 | -0.00 | 0.02 | 88 | Energy | |
| TC Energy Corporation | 0.03 | 0.09 | 0.06 | 96 | Energy | |
| Fortis Inc. | 0.08 | 0.06 | 0.03 | 87 | Utilities |
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