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Amazon.com CDR (CAD Hedged) (AMZN.TO) Diversifiers

Equity · Currency in CAD · Last updated Jun 4, 2026

Amazon.com, Inc. engages in the retail sale of consumer products, advertising, and subscription services through online and physical stores globally, while also manufacturing electronic devices and developing media content. The company provides programs for sellers and content creators to publish and sell products, and offers cloud computing, storage, analytics, machine learning, and advertising services through its Amazon Web Services segment.

Looking to balance out your exposure to AMZN.TO? The ETFs below have the lowest correlation with AMZN.TO — they tend to move on their own, which can help reduce risk when AMZN.TO drops. The stock ideas table highlights individual companies that behave independently from AMZN.TO.

Best Diversifiers for AMZN.TO

3 ETFs have low correlation with AMZN.TO (below 0.3), 0 of which are negatively correlated. The least correlated is BMO Canadian Dividend ETF (ZDV.TO) (Canada Equities) with a 1Y correlation of 0.09, down from 0.20 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
ZDV.TO
BMO Canadian Dividend ETF0.090.200.20
85
Canada EquitiesAMZN.TO vs ZDV.TO
VDY.TO
Vanguard FTSE Canadian High Dividend Yield Index E...0.10——
98
DividendAMZN.TO vs VDY.TO
ZEB.TO
BMO Equal Weight Banks Index ETF0.29——
96
Financials EquitiesAMZN.TO vs ZEB.TO
VEQT.TO
Vanguard All-Equity ETF Portfolio0.44——
81
Global EquitiesAMZN.TO vs VEQT.TO
XEQT.TO
iShares Core Equity ETF Portfolio0.45——
75
Global EquitiesAMZN.TO vs XEQT.TO
See all 7 diversifiers for AMZN.TO

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from AMZN.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AMZN.TO and solid risk/return profiles. The least correlated is Canadian Natural Resources Limited (CNQ.TO) (Energy) with a 1Y correlation of -0.14, down from 0.05 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
CNQ.TO
Canadian Natural Resources Limited-0.140.050.05
86
Energy
BBD-A.TO
Bombardier Inc0.23——
98
Industrials

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Diversification Analysis

Build a portfolio that complements AMZN.TO

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Analyze a portfolio with AMZN.TO