Looking to diversify beyond ZLU.TO? The ETFs below have the lowest correlation with ZLU.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 ZLU.TO.
Best Diversifiers for ZLU.TO
13 ETFs have low correlation with ZLU.TO (below 0.3), 0 of which are negatively correlated. The least correlated is iShares Floating Rate Index ETF (XFR.TO) (Canadian Government Bonds) with a 1Y correlation of 0.01, roughly unchanged from 0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Floating Rate Index ETF | 0.01 | -0.01 | 0.02 | 98 | Canadian Government Bonds | ZLU.TO vs XFR.TO | |
| BMO Money Market Fund ETF Series | 0.03 | 0.01 | — | 100 | Money Market | ZLU.TO vs ZMMK.TO | |
| Invesco NASDAQ 100 Index ETF CAD Hedged | 0.06 | 0.05 | 0.15 | 66 | Nasdaq-100 | ZLU.TO vs QQC-F.TO | |
| BMO NASDAQ 100 Equity (CAD Hedged) | 0.09 | 0.06 | 0.16 | 68 | Nasdaq-100 | ZLU.TO vs ZQQ.TO | |
| TD Active U.S. Enhanced Dividend CAD Hedged ETF | 0.10 | 0.04 | — | 50 | Dividend, Large Cap Blend Equities | ZLU.TO vs TUEX.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ZLU.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ZLU.TO and solid risk/return profiles. The least correlated is Royal Bank of Canada (RY.TO) (Financial Services) with a 1Y correlation of 0.22, roughly unchanged from 0.28 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Royal Bank of Canada | 0.22 | 0.28 | 0.28 | 97 | Financial Services |
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