PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan

BMO S&P/TSX Capped Composite Index ETF (ZCN.TO) Diversifiers

ETF · Currency in CAD · Last updated Jun 25, 2026

The ETF aims to mirror the performance of the S&P/TSX Capped Composite Index by investing in the constituent securities in the same proportions as the Index. The Index comprises over 200 top Canadian stocks, representing about 95% of the Canadian equity market, with constituent securities subject to specific eligibility criteria and weight caps.

Looking to diversify beyond ZCN.TO? The ETFs below have the lowest correlation with ZCN.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 ZCN.TO.

Best Diversifiers for ZCN.TO

21 ETFs have low correlation with ZCN.TO (below 0.3), 3 of which are negatively correlated.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
ZAAA.NEO
BMO AAA CLO ETF-0.19——
65
CLOZCN.TO vs ZAAA.NEO
ZUCM.TO
BMO USD Cash Management ETF-0.19——
57
Money MarketZCN.TO vs ZUCM.TO
ZTIP.TO
BMO Short-Term US TIPS Index ETF-0.17-0.16-0.18
53
Inflation-Protected BondsZCN.TO vs ZTIP.TO
ZWEN.TO
BMO Covered Call Energy ETF0.010.30—
66
Energy EquitiesZCN.TO vs ZWEN.TO
CASH.TO
Global X High Interest Savings ETF0.030.04—
99
Money MarketZCN.TO vs CASH.TO
See all 134 diversifiers for 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 ZCN.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ZCN.TO and solid risk/return profiles. The least correlated is Loblaw Companies Limited (L.TO) (Consumer Defensive) with a 1Y correlation of 0.03, down from 0.18 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
L.TO
Loblaw Companies Limited0.030.210.18
64
Consumer Defensive
CNQ.TO
Canadian Natural Resources Limited0.040.310.43
75
Energy
ENB.TO
Enbridge Inc.0.070.350.47
89
Energy
TRP.TO
TC Energy Corporation0.130.350.41
96
Energy
CGI.TO
Canadian General Investments, Limited0.390.470.52
87
Financial Services
See all 12 low-correlation stocks for ZCN.TO

To view more results, upgrade your current subscription plan.

Diversification Analysis

Build a portfolio that complements ZCN.TO

Add ZCN.TO to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.

Analyze a portfolio with ZCN.TO