Looking to diversify beyond ZHP.TO? The ETFs below have historically moved differently from ZHP.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 ZHP.TO
17 ETFs have low correlation with ZHP.TO (below 0.3), 1 of which are negatively correlated. The least correlated is Lysander-Slater Preferred Share ActivETF (PR.TO) (Preferred Stock) with a 1Y correlation of -0.05, down from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Lysander-Slater Preferred Share ActivETF | -0.05 | 0.05 | 0.13 | 88 | Preferred Stock, Actively Managed | ZHP.TO vs PR.TO | |
| BMO Money Market Fund ETF Series | 0.00 | 0.01 | — | 99 | Money Market | ZHP.TO vs ZMMK.TO | |
| RBC Canadian Preferred Share ETF | 0.03 | 0.03 | 0.15 | 97 | Preferred Stock | ZHP.TO vs RPF.TO | |
| Global X Laddered Canadian Preferred Share Index C... | 0.05 | 0.04 | 0.14 | 97 | Preferred Stock | ZHP.TO vs HLPR.TO | |
| Global X Active Hybrid Bond and Preferred Share ET... | 0.05 | 0.00 | 0.04 | 91 | Preferred Stock | ZHP.TO vs HYBR.TO |
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