Looking to diversify beyond ZEO.TO? The ETFs below have the lowest correlation with ZEO.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 ZEO.TO.
Best Diversifiers for ZEO.TO
19 ETFs have low correlation with ZEO.TO (below 0.3), 15 of which are negatively correlated. The least correlated is BMO NASDAQ 100 Equity (CAD Hedged) (ZQQ.TO) (Nasdaq-100) with a 1Y correlation of -0.19, down from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BMO NASDAQ 100 Equity (CAD Hedged) | -0.19 | 0.06 | 0.17 | 67 | Nasdaq-100 | ZEO.TO vs ZQQ.TO | |
| BMO NASDAQ 100 Equity Index ETF | -0.19 | 0.02 | 0.08 | 74 | Nasdaq-100 | ZEO.TO vs ZNQ.TO | |
| Vanguard S&P 500 Index ETF | -0.15 | 0.09 | 0.17 | 74 | S&P 500 | ZEO.TO vs VFV.TO | |
| BMO S&P 500 Index ETF | -0.12 | 0.10 | 0.17 | 72 | S&P 500 | ZEO.TO vs ZSP.TO | |
| BMO Equal Weight Banks Index ETF | -0.09 | 0.21 | 0.34 | 96 | Financials Equities | ZEO.TO vs ZEB.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ZEO.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ZEO.TO and solid risk/return profiles. The least correlated is Cameco Corporation (CCO.TO) (Energy) with a 1Y correlation of -0.01, down from 0.33 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cameco Corporation | -0.01 | 0.22 | 0.33 | 84 | Energy | |
| Enbridge Inc. | 0.47 | 0.48 | 0.57 | 81 | Energy | |
| Suncor Energy Inc. | 0.79 | 0.82 | 0.84 | 96 | Energy | |
| Canadian Natural Resources Limited | 0.83 | 0.85 | 0.87 | 86 | Energy |
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