Looking to diversify beyond ZMMK.TO? The ETFs below have historically moved differently from ZMMK.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 ZMMK.TO
146 ETFs have low correlation with ZMMK.TO (below 0.3), 13 of which are negatively correlated.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BMO AAA CLO ETF | -0.18 | — | — | 56 | CLO | ZMMK.TO vs ZAAA.NEO | |
| Arrow EC Income Advantage Alternative Fund | -0.15 | -0.07 | — | 66 | Investment Grade Bonds, Corporate Bonds, Nontraditional Bonds | ZMMK.TO vs RATE.TO | |
| BMO Equal Weight US Health Care Hedged to CAD Inde... | -0.09 | -0.03 | — | 57 | Health & Biotech Equities, Equal Weight | ZMMK.TO vs ZUH.TO | |
| PICTON Long Short Income Alternative Fund | -0.09 | -0.02 | — | 62 | Long-Short, Nontraditional Bonds | ZMMK.TO vs PFIA.TO | |
| iShares Core MSCI US Quality Dividend Index ETF | -0.06 | -0.02 | — | 75 | Quality Factor, Large Cap Value Equities, Dividend | ZMMK.TO vs XDU.TO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for ZMMK.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 Whitecap Resources Inc. (WCP.TO) (Energy) with a 1Y correlation of -0.06, roughly unchanged from 0.00 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Whitecap Resources Inc. | -0.06 | -0.01 | 0.00 | 93 | Energy | |
| Rogers Communications Inc | -0.06 | 0.02 | — | 51 | Communication Services | |
| Canadian Natural Resources Limited | -0.05 | 0.01 | 0.00 | 88 | Energy | |
| South Bow Corp | -0.02 | — | — | 94 | Energy | |
| Fortis Inc. | -0.01 | 0.06 | — | 87 | Utilities |
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