Looking to diversify beyond ZGRO.TO? The ETFs below have the lowest correlation with ZGRO.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 ZGRO.TO.
Best Diversifiers for ZGRO.TO
6 ETFs have low correlation with ZGRO.TO (below 0.3), 1 of which are negatively correlated. The least correlated is Global X 0-3 Month T-Bill ETF (CBIL.TO) (Canadian Government Bonds) with a 1Y correlation of -0.03, roughly unchanged from 0.03 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X 0-3 Month T-Bill ETF | -0.03 | 0.03 | — | 99 | Canadian Government Bonds | ZGRO.TO vs CBIL.TO | |
| Global X High Interest Savings ETF | 0.00 | 0.05 | — | 100 | Money Market | ZGRO.TO vs CASH.TO | |
| Purpose High Interest Savings Fund | 0.08 | 0.08 | 0.06 | 100 | Money Market | ZGRO.TO vs PSA.TO | |
| Global X Cash Maximizer Corporate Class ETF | 0.09 | 0.06 | 0.04 | 66 | Bank Loan | ZGRO.TO vs HSAV.TO | |
| BMO Money Market Fund ETF Series | 0.17 | 0.05 | — | 100 | Money Market | ZGRO.TO vs ZMMK.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ZGRO.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ZGRO.TO and solid risk/return profiles. The least correlated is Power Corporation of Canada (POW.TO) (Financial Services) with a 1Y correlation of 0.23, down from 0.39 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Power Corporation of Canada | 0.23 | 0.28 | 0.39 | 94 | Financial Services |
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