Looking to diversify beyond ZDV.TO? The ETFs below have historically moved differently from ZDV.TO, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for ZDV.TO
22 ETFs have low correlation with ZDV.TO (below 0.3), 1 of which are negatively correlated.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BMO AAA CLO ETF | -0.05 | — | — | 56 | CLO | ZDV.TO vs ZAAA.NEO | |
| iShares Premium Money Market ETF | 0.05 | 0.00 | -0.03 | 100 | Money Market | ZDV.TO vs CMR.TO | |
| Global X Inovestor Canadian Equity Index ETF | 0.07 | 0.36 | 0.41 | 79 | Canada Equities | ZDV.TO vs INOC.TO | |
| Global X High Interest Savings ETF | 0.08 | 0.06 | — | 100 | Money Market | ZDV.TO vs CASH.TO | |
| BMO Money Market Fund ETF Series | 0.10 | 0.07 | — | 99 | Money Market | ZDV.TO vs ZMMK.TO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for ZDV.TO, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Loblaw Companies Limited (L.TO) (Consumer Defensive) with a 1Y correlation of 0.07, down from 0.23 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Loblaw Companies Limited | 0.07 | 0.23 | 0.23 | 69 | Consumer Defensive | |
| Canadian Natural Resources Limited | 0.22 | 0.38 | 0.49 | 88 | Energy | |
| Enbridge Inc. | 0.38 | 0.51 | 0.60 | 87 | Energy | |
| Dividend 15 Split Corp. | 0.43 | 0.57 | 0.57 | 98 | Financial Services | |
| The Bank of Nova Scotia | 0.48 | 0.60 | 0.67 | 98 | Financial Services |
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