Looking to diversify beyond ZEB.TO? The ETFs below have the lowest correlation with ZEB.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 ZEB.TO.
Best Diversifiers for ZEB.TO
17 ETFs have low correlation with ZEB.TO (below 0.3), 5 of which are negatively correlated. The least correlated is iShares S&P/TSX Capped Energy Index ETF (XEG.TO) (Energy Equities) with a 1Y correlation of -0.12, down from 0.31 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares S&P/TSX Capped Energy Index ETF | -0.12 | 0.16 | 0.31 | 86 | Energy Equities | ZEB.TO vs XEG.TO | |
| BMO Equal Weight Oil & Gas Index ETF | -0.09 | 0.22 | 0.34 | 86 | Energy Equities | ZEB.TO vs ZEO.TO | |
| BMO Covered Call Energy ETF | -0.07 | 0.18 | 0.18 | 74 | Energy Equities | ZEB.TO vs ZWEN.TO | |
| Global X 0-3 Month T-Bill ETF | -0.05 | 0.00 | — | 99 | Canadian Government Bonds | ZEB.TO vs CBIL.TO | |
| Global X High Interest Savings ETF | -0.01 | 0.02 | 0.02 | 100 | Money Market | ZEB.TO vs CASH.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ZEB.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ZEB.TO and solid risk/return profiles. The least correlated is Canadian Natural Resources Limited (CNQ.TO) (Energy) with a 1Y correlation of -0.13, down from 0.29 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Canadian Natural Resources Limited | -0.13 | 0.16 | 0.29 | 86 | Energy | |
| Quebecor Inc | -0.06 | 0.08 | 0.17 | 96 | Communication Services | |
| Enbridge Inc. | -0.01 | 0.29 | 0.38 | 81 | Energy | |
| Loblaw Companies Limited | 0.01 | 0.19 | 0.16 | 54 | Consumer Defensive | |
| Sprott Physical Gold Trust | 0.14 | 0.08 | -0.04 | 73 | Financial Services |
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