Looking to diversify beyond ZEO.TO? The ETFs below have historically moved differently from ZEO.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 ZEO.TO
22 ETFs have low correlation with ZEO.TO (below 0.3), 16 of which are negatively correlated. The least correlated is Vanguard S&P 500 Index ETF (VFV.TO) (S&P 500) with a 1Y correlation of -0.19, down from 0.15 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 Index ETF | -0.19 | 0.06 | 0.15 | 83 | S&P 500 | ZEO.TO vs VFV.TO | |
| BMO NASDAQ 100 Equity Index ETF | -0.19 | 0.01 | 0.07 | 64 | Nasdaq-100 | ZEO.TO vs ZNQ.TO | |
| BMO S&P 500 Index ETF | -0.17 | 0.07 | 0.15 | 83 | S&P 500 | ZEO.TO vs ZSP.TO | |
| BMO MSCI USA High Quality Index ETF | -0.16 | 0.02 | 0.08 | 60 | Quality Factor, Large Cap Blend Equities | ZEO.TO vs ZUQ.TO | |
| BMO Covered Call Canadian Banks ETF | -0.14 | 0.15 | 0.30 | 97 | Financials Equities, Derivative Income, Options Trading | ZEO.TO vs ZWB.TO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for ZEO.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 Cameco Corporation (CCO.TO) (Energy) with a 1Y correlation of -0.02, down from 0.31 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cameco Corporation | -0.02 | 0.20 | 0.31 | 56 | Energy | |
| Enbridge Inc. | 0.52 | 0.48 | 0.57 | 82 | Energy | |
| Suncor Energy Inc. | 0.82 | 0.82 | 0.85 | 95 | Energy | |
| Cenovus Energy Inc. | 0.84 | 0.82 | 0.84 | 95 | Energy | |
| Canadian Natural Resources Limited | 0.85 | 0.85 | 0.87 | 87 | Energy |
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