Looking to diversify beyond ZFN.TO? The ETFs below have historically moved differently from ZFN.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 ZFN.TO
6 ETFs have low correlation with ZFN.TO (below 0.3), 0 of which are negatively correlated. The least correlated is iShares S&P/TSX Capped Energy Index ETF (XEG.TO) (Energy Equities) with a 1Y correlation of 0.02, down from 0.19 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares S&P/TSX Capped Energy Index ETF | 0.02 | 0.07 | 0.19 | 89 | Energy Equities, Canada Equities | ZFN.TO vs XEG.TO | |
| TD Q Canadian Low Volatility ETF | 0.13 | 0.30 | 0.30 | 86 | Canada Equities, Low Volatility | ZFN.TO vs TCLV.TO | |
| Fidelity Canadian Monthly High Income ETF | 0.17 | 0.12 | 0.11 | 95 | Canada Equities, Derivative Income | ZFN.TO vs FCMI.TO | |
| Global X Canadian High Dividend Index Corporate Cl... | 0.19 | 0.20 | 0.25 | 98 | Canada Equities | ZFN.TO vs HXH.TO | |
| Invesco S&P/TSX Composite Low Volatility Index ETF | 0.20 | 0.27 | 0.26 | 97 | Canada Equities, Low Volatility | ZFN.TO vs TLV.TO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for ZFN.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 Loblaw Companies Limited (L.TO) (Consumer Defensive) with a 1Y correlation of -0.14, down from 0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Loblaw Companies Limited | -0.14 | 0.09 | 0.09 | 68 | Consumer Defensive |
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