Looking to diversify beyond SPLT.TO? The ETFs below have the lowest correlation with SPLT.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 SPLT.TO.
Best Diversifiers for SPLT.TO
22 ETFs have low correlation with SPLT.TO (below 0.3), 3 of which are negatively correlated. The least correlated is Global X Laddered Canadian Preferred Share Index Corporate Class ETF (HLPR.TO) (Preferred Stock/Convertible Bonds) with a 1Y correlation of -0.04, down from 0.09 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X Laddered Canadian Preferred Share Index C... | -0.04 | 0.09 | — | 97 | Preferred Stock/Convertible Bonds | SPLT.TO vs HLPR.TO | |
| Global X High Interest Savings ETF | -0.02 | 0.04 | 0.04 | 99 | Money Market | SPLT.TO vs CASH.TO | |
| iShares S&P/TSX Canadian Preferred Share Index ETF | -0.01 | 0.14 | — | 93 | Preferred Stock/Convertible Bonds | SPLT.TO vs CPD.TO | |
| Global X Active Hybrid Bond and Preferred Share ET... | 0.02 | 0.03 | — | 92 | Preferred Stock/Convertible Bonds | SPLT.TO vs HYBR.TO | |
| TD Active Preferred Share ETF | 0.03 | 0.15 | — | 96 | Preferred Stock/Convertible Bonds | SPLT.TO vs TPRF.TO |
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