Looking to balance out your exposure to RY-PS.TO? The ETFs below have the lowest correlation with RY-PS.TO — they tend to move on their own, which can help reduce risk when RY-PS.TO drops. The stock ideas table highlights individual companies that behave independently from RY-PS.TO.
No Diversifiers Found for RY-PS.TO
We do not have enough correlation history to rank diversifiers for this symbol yet.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from RY-PS.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to RY-PS.TO and solid risk/return profiles. The least correlated is Enbridge Inc. (ENB.TO) (Energy) with a 1Y correlation of -0.08, down from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Enbridge Inc. | -0.08 | 0.01 | 0.07 | 81 | Energy | |
| Suncor Energy Inc. | -0.05 | -0.00 | 0.01 | 96 | Energy | |
| Northland Power Inc. | -0.02 | 0.05 | 0.08 | 54 | Utilities | |
| Capital Power Corporation | 0.08 | 0.04 | 0.04 | 68 | Utilities | |
| Cameco Corporation | 0.14 | 0.10 | 0.11 | 84 | Energy |
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