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
27 ETFs have low correlation with ZEB.TO (below 0.3), 10 of which are negatively correlated. The least correlated is BMO Short-Term US TIPS Index ETF (ZTIP.TO) (Inflation-Protected Bonds) with a 1Y correlation of -0.17, roughly unchanged from -0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BMO Short-Term US TIPS Index ETF | -0.17 | -0.13 | -0.15 | 61 | Inflation-Protected Bonds | ZEB.TO vs ZTIP.TO | |
| BMO USD Cash Management ETF | -0.15 | — | — | 60 | Money Market | ZEB.TO vs ZUCM.TO | |
| iShares S&P/TSX Capped Energy Index ETF | -0.13 | 0.12 | 0.29 | 79 | Energy Equities, Canada Equities | ZEB.TO vs XEG.TO | |
| BMO AAA CLO ETF | -0.12 | -0.09 | -0.09 | 74 | CLO | ZEB.TO vs ZAAA.NEO | |
| BMO Equal Weight Oil & Gas Index ETF | -0.11 | 0.17 | 0.32 | 90 | Energy Equities, Equal Weight | ZEB.TO vs ZEO.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 0.28 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Canadian Natural Resources Limited | -0.13 | 0.12 | 0.28 | 83 | Energy | |
| George Weston Limited | -0.07 | 0.18 | 0.20 | 71 | Consumer Defensive | |
| Quebecor Inc | -0.06 | 0.06 | 0.17 | 96 | Communication Services | |
| Loblaw Companies Limited | -0.03 | 0.16 | 0.15 | 69 | Consumer Defensive | |
| Enbridge Inc. | -0.02 | 0.26 | 0.37 | 91 | Energy |
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