Looking to diversify beyond ZHP.TO? The ETFs below have the lowest correlation with ZHP.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 ZHP.TO.
Best Diversifiers for ZHP.TO
9 ETFs have low correlation with ZHP.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Brompton Split Corp. Preferred Share ETF (SPLT.TO) (Preferred Stock/Convertible Bonds) with a 1Y correlation of 0.06, roughly unchanged from 0.09 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Brompton Split Corp. Preferred Share ETF | 0.06 | 0.09 | — | 69 | Preferred Stock/Convertible Bonds | ZHP.TO vs SPLT.TO | |
| Global X Laddered Canadian Preferred Share Index C... | 0.07 | 0.04 | 0.15 | 97 | Preferred Stock/Convertible Bonds | ZHP.TO vs HLPR.TO | |
| RBC Canadian Preferred Share ETF | 0.09 | 0.03 | 0.15 | 97 | Preferred Stock/Convertible Bonds | ZHP.TO vs RPF.TO | |
| iShares S&P/TSX Canadian Preferred Share Index ETF | 0.13 | 0.06 | 0.19 | 94 | Preferred Stock/Convertible Bonds | ZHP.TO vs CPD.TO | |
| Global X Active Preferred Share ETF | 0.15 | 0.10 | 0.18 | 96 | Preferred Stock/Convertible Bonds | ZHP.TO vs HPR.TO |
See all 14 diversifiers for ZHP.TO
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