Looking to diversify beyond ZBAL.TO? The ETFs below have the lowest correlation with ZBAL.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 ZBAL.TO.
Best Diversifiers for ZBAL.TO
3 ETFs have low correlation with ZBAL.TO (below 0.3), 0 of which are negatively correlated. The least correlated is BMO Covered Call Utilities ETF (ZWU.TO) (Utilities Equities) with a 1Y correlation of 0.04, down from 0.37 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BMO Covered Call Utilities ETF | 0.04 | 0.28 | 0.37 | 58 | Utilities Equities, Derivative Income | ZBAL.TO vs ZWU.TO | |
| BMO Money Market Fund ETF Series | 0.15 | 0.05 | — | 100 | Money Market | ZBAL.TO vs ZMMK.TO | |
| iShares S&P/TSX Composite High Dividend Index ETF | 0.30 | 0.53 | 0.56 | 98 | Canada Equities | ZBAL.TO vs XEI.TO | |
| iShares ESG Conservative Balanced ETF Portfolio | 0.34 | 0.31 | 0.31 | 52 | Diversified Portfolio | ZBAL.TO vs GCNS.TO | |
| Fidelity Global Monthly High Income ETF | 0.38 | 0.32 | 0.30 | 91 | Global Allocation | ZBAL.TO vs FCGI.TO |
See all 41 diversifiers for ZBAL.TO
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