Looking to balance out your exposure to WPM.TO? The ETFs below have the lowest correlation with WPM.TO — they tend to move on their own, which can help reduce risk when WPM.TO drops. The stock ideas table highlights individual companies that behave independently from WPM.TO.
Best Diversifiers for WPM.TO
9 ETFs have low correlation with WPM.TO (below 0.3), 1 of which are negatively correlated. The least correlated is Purpose High Interest Savings Fund (PSA.TO) (Money Market) with a 1Y correlation of -0.01, roughly unchanged from 0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Purpose High Interest Savings Fund | -0.01 | -0.01 | 0.02 | 99 | Money Market | WPM.TO vs PSA.TO | |
| Global X High Interest Savings ETF | 0.04 | -0.02 | — | 100 | Money Market | WPM.TO vs CASH.TO | |
| iShares Core MSCI US Quality Dividend Index ETF | 0.14 | 0.09 | 0.10 | 67 | Large Cap Value Equities, Dividend | WPM.TO vs XDU.TO | |
| iShares Core MSCI Canadian Quality Dividend Index ... | 0.17 | 0.23 | 0.24 | 98 | Dividend, Large Cap Value Equities | WPM.TO vs XDIV.TO | |
| iShares S&P/TSX Composite High Dividend Index ETF | 0.18 | 0.24 | 0.27 | 98 | Canada Equities | WPM.TO vs XEI.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from WPM.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to WPM.TO and solid risk/return profiles. The least correlated is Tourmaline Oil Corp. (TOU.TO) (Energy) with a 1Y correlation of -0.14, down from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Tourmaline Oil Corp. | -0.14 | 0.02 | 0.07 | 51 | Energy | |
| Loblaw Companies Limited | -0.10 | 0.02 | 0.04 | 70 | Consumer Defensive | |
| Canadian Natural Resources Limited | -0.10 | 0.05 | 0.10 | 86 | Energy | |
| Pembina Pipeline Corporation | -0.04 | 0.08 | 0.15 | 92 | Energy | |
| Hydro One Limited | -0.03 | 0.12 | 0.14 | 90 | Utilities |
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