Looking to diversify beyond ZEB.TO? The ETFs below have historically moved differently from ZEB.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 ZEB.TO
20 ETFs have low correlation with ZEB.TO (below 0.3), 8 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 -0.17, down from 0.27 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares S&P/TSX Capped Energy Index ETF | -0.17 | 0.11 | 0.27 | 89 | Energy Equities, Canada Equities | ZEB.TO vs XEG.TO | |
| BMO Equal Weight Oil & Gas Index ETF | -0.14 | 0.15 | 0.31 | 93 | Energy Equities, Equal Weight | ZEB.TO vs ZEO.TO | |
| BMO Covered Call Energy ETF | -0.13 | 0.12 | — | 90 | Energy Equities | ZEB.TO vs ZWEN.TO | |
| BMO AAA CLO ETF | -0.09 | — | — | 56 | CLO | ZEB.TO vs ZAAA.NEO | |
| Evolve Canadian Utilities Enhanced Yield Index Fun... | -0.08 | 0.09 | 0.09 | 67 | Utilities Equities, Derivative Income, Leveraged Equities | ZEB.TO vs UTES.TO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for ZEB.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 Suncor Energy Inc. (SU.TO) (Energy) with a 1Y correlation of -0.20, down from 0.23 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Suncor Energy Inc. | -0.20 | 0.07 | 0.23 | 95 | Energy | |
| Canadian Natural Resources Limited | -0.18 | 0.10 | 0.26 | 88 | Energy | |
| Hydro One Limited | -0.12 | 0.24 | 0.16 | 86 | Utilities | |
| Fortis Inc. | -0.11 | 0.21 | 0.14 | 87 | Utilities | |
| George Weston Limited | -0.08 | 0.17 | 0.19 | 75 | Consumer Defensive |
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