Looking to balance out your exposure to ATZ.TO? The ETFs below have the lowest correlation with ATZ.TO — they tend to move on their own, which can help reduce risk when ATZ.TO drops. The stock ideas table highlights individual companies that behave independently from ATZ.TO.
Best Diversifiers for ATZ.TO
2 ETFs have low correlation with ATZ.TO (below 0.3), 0 of which are negatively correlated. The least correlated is BMO Money Market Fund ETF Series (ZMMK.TO) (Money Market) with a 1Y correlation of 0.11, roughly unchanged from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BMO Money Market Fund ETF Series | 0.11 | 0.04 | 0.04 | 100 | Money Market | ATZ.TO vs ZMMK.TO | |
| Vanguard FTSE Canadian High Dividend Yield Index E... | 0.27 | 0.22 | 0.30 | 98 | Dividend | ATZ.TO vs VDY.TO | |
| BMO Low Volatility Canadian Equity ETF | 0.36 | 0.25 | 0.31 | 54 | Canada Equities | ATZ.TO vs ZLB.TO | |
| TD Global Technology Leaders Index ETF | 0.47 | 0.35 | 0.40 | 58 | Technology Equities | ATZ.TO vs TEC.TO | |
| BMO S&P/TSX Capped Composite Index ETF | 0.48 | 0.37 | 0.43 | 80 | Canada Equities | ATZ.TO vs ZCN.TO |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ATZ.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ATZ.TO and solid risk/return profiles. The least correlated is Enbridge Inc. (ENB.TO) (Energy) with a 1Y correlation of -0.19, down from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Enbridge Inc. | -0.19 | -0.02 | 0.09 | 81 | Energy | |
| Canadian Natural Resources Limited | -0.13 | -0.03 | 0.09 | 86 | Energy | |
| Rogers Communications Inc | 0.08 | 0.11 | 0.10 | 84 | Communication Services | |
| Loblaw Companies Limited | 0.09 | 0.09 | 0.11 | 54 | Consumer Defensive | |
| Hammond Power Solutions Inc | 0.13 | 0.17 | 0.15 | 94 | Industrials |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements ATZ.TO
Add ATZ.TO to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with ATZ.TO