Looking to diversify beyond ZEM.TO? The ETFs below have historically moved differently from ZEM.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 ZEM.TO
12 ETFs have low correlation with ZEM.TO (below 0.3), 3 of which are negatively correlated. The least correlated is BMO Equal Weight Oil & Gas Index ETF (ZEO.TO) (Energy Equities) with a 1Y correlation of -0.09, down from 0.15 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BMO Equal Weight Oil & Gas Index ETF | -0.09 | 0.10 | 0.15 | 90 | Energy Equities, Equal Weight | ZEM.TO vs ZEO.TO | |
| iShares S&P/TSX Capped Energy Index ETF | -0.05 | 0.10 | 0.14 | 85 | Energy Equities, Canada Equities | ZEM.TO vs XEG.TO | |
| Purpose High Interest Savings Fund | -0.03 | 0.01 | 0.04 | 99 | Money Market | ZEM.TO vs PSA.TO | |
| Global X High Interest Savings ETF | 0.00 | 0.01 | — | 100 | Money Market | ZEM.TO vs CASH.TO | |
| iShares S&P/TSX Composite High Dividend Index ETF | 0.11 | 0.30 | 0.32 | 98 | Canada Equities | ZEM.TO vs XEI.TO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for ZEM.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 National Bank of Canada (NA.TO) (Financial Services) with a 1Y correlation of 0.36, roughly unchanged from 0.33 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| National Bank of Canada | 0.36 | 0.29 | 0.33 | 98 | Financial Services | |
| Sprott Physical Gold Trust | 0.37 | 0.20 | 0.14 | 64 | Financial Services | |
| Sprott Physical Gold and Silver Trust | 0.38 | 0.28 | 0.21 | 67 | Financial Services | |
| Sprott Physical Silver Trust | 0.42 | 0.35 | 0.30 | 69 | Basic Materials |
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