Looking to diversify beyond ZEQT.TO? The ETFs below have the lowest correlation with ZEQT.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 ZEQT.TO.
Best Diversifiers for ZEQT.TO
24 ETFs have low correlation with ZEQT.TO (below 0.3), 6 of which are negatively correlated. The least correlated is Evolve Canadian Utilities Enhanced Yield Index Fund ETF (UTES.TO) (Derivative Income) with a 1Y correlation of -0.08, down from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Evolve Canadian Utilities Enhanced Yield Index Fun... | -0.08 | 0.08 | 0.08 | 77 | Derivative Income | ZEQT.TO vs UTES.TO | |
| BMO Equal Weight Oil & Gas Index ETF | -0.04 | 0.18 | — | 89 | Energy Equities, Equal Weight | ZEQT.TO vs ZEO.TO | |
| BMO Covered Call Energy ETF | -0.04 | 0.17 | — | 79 | Energy Equities | ZEQT.TO vs ZWEN.TO | |
| iShares S&P/TSX Capped Energy Index ETF | -0.04 | 0.16 | 0.22 | 78 | Energy Equities, Canada Equities | ZEQT.TO vs XEG.TO | |
| BMO AAA CLO ETF | -0.01 | 0.04 | — | 59 | CLO | ZEQT.TO vs ZAAA.NEO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ZEQT.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ZEQT.TO and solid risk/return profiles. The least correlated is Fortis Inc. (FTS.TO) (Utilities) with a 1Y correlation of -0.13, down from 0.07 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Fortis Inc. | -0.13 | 0.07 | — | 93 | Utilities | |
| Enbridge Inc. | -0.08 | 0.16 | 0.22 | 91 | Energy | |
| Canadian Natural Resources Limited | -0.07 | 0.15 | — | 83 | Energy | |
| Loblaw Companies Limited | -0.06 | 0.13 | 0.12 | 68 | Consumer Defensive | |
| The Bank of Nova Scotia | 0.40 | 0.47 | — | 98 | Financial Services |
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