Looking to diversify beyond ZDV.TO? The ETFs below have the lowest correlation with ZDV.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 ZDV.TO.
Best Diversifiers for ZDV.TO
18 ETFs have low correlation with ZDV.TO (below 0.3), 1 of which are negatively correlated. The least correlated is Global X 0-3 Month T-Bill ETF (CBIL.TO) (Canadian Government Bonds) with a 1Y correlation of -0.03, roughly unchanged from 0.02 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X 0-3 Month T-Bill ETF | -0.03 | 0.02 | — | 99 | Canadian Government Bonds | ZDV.TO vs CBIL.TO | |
| Global X High Interest Savings ETF | 0.02 | 0.04 | — | 100 | Money Market | ZDV.TO vs CASH.TO | |
| iShares Premium Money Market ETF | 0.07 | 0.02 | -0.01 | 99 | Money Market | ZDV.TO vs CMR.TO | |
| BMO Money Market Fund ETF Series | 0.08 | 0.06 | — | 100 | Money Market | ZDV.TO vs ZMMK.TO | |
| Purpose Global Bond Fund | 0.08 | 0.20 | 0.23 | 55 | ZDV.TO vs BND.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ZDV.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ZDV.TO and solid risk/return profiles. The least correlated is Loblaw Companies Limited (L.TO) (Consumer Defensive) with a 1Y correlation of 0.14, down from 0.25 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Loblaw Companies Limited | 0.14 | 0.27 | 0.25 | 54 | Consumer Defensive | |
| Canadian Natural Resources Limited | 0.24 | 0.41 | 0.51 | 86 | Energy | |
| Enbridge Inc. | 0.36 | 0.52 | 0.60 | 81 | Energy | |
| Dividend 15 Split Corp. | 0.37 | 0.54 | 0.53 | 96 | Financial Services | |
| The Bank of Nova Scotia | 0.44 | 0.61 | 0.66 | 96 | Financial Services |
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