Looking to diversify beyond SOLL.TO? The ETFs below have historically moved differently from SOLL.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 SOLL.TO
4 ETFs have low correlation with SOLL.TO (below 0.3), 1 of which are negatively correlated. The least correlated is Purpose Cash Management Fund (MNY.TO) (Money Market) with a 1Y correlation of -0.07, roughly unchanged from -0.07 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Purpose Cash Management Fund | -0.07 | -0.07 | -0.07 | 100 | Money Market | SOLL.TO vs MNY.TO | |
| Purpose High Interest Savings Fund | 0.04 | 0.01 | 0.01 | 100 | Money Market | SOLL.TO vs PSA.TO | |
| Purpose Multi-Strategy Market Neutral Fund | 0.15 | — | — | 68 | Equity Market Neutral, Multistrategy, Actively Managed | SOLL.TO vs PMM.TO | |
| Purpose Enhanced Dividend Fund ETF | 0.28 | 0.23 | 0.23 | 94 | Dividend | SOLL.TO vs PDIV.TO |
Diversification Analysis
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