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 0.03, down from 0.36 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BMO Covered Call Utilities ETF | 0.03 | 0.29 | 0.36 | 77 | Utilities Equities, Derivative Income | ZBAL.TO vs ZWU.TO | |
| BMO Money Market Fund ETF Series | 0.14 | 0.07 | — | 99 | Money Market | ZBAL.TO vs ZMMK.TO | |
| BMO Ultra Short-Term Bond ETF | 0.22 | 0.19 | 0.20 | 51 | Canadian Government Bonds, Ultrashort Bond | ZBAL.TO vs ZST.TO | |
| iShares S&P/TSX Composite High Dividend Index ETF | 0.32 | 0.54 | 0.56 | 97 | Canada Equities | ZBAL.TO vs XEI.TO | |
| iShares ESG Conservative Balanced ETF Portfolio | 0.32 | 0.29 | 0.30 | 56 | Diversified Portfolio | ZBAL.TO vs GCNS.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ZBAL.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ZBAL.TO and solid risk/return profiles. The least correlated is CT Real Estate Investment Trust (CRT-UN.TO) (Real Estate) with a 1Y correlation of 0.26, down from 0.42 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| CT Real Estate Investment Trust | 0.26 | 0.35 | 0.42 | 84 | Real Estate |
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