Looking to diversify beyond ZMMK.TO? The ETFs below have the lowest correlation with ZMMK.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 ZMMK.TO.
Best Diversifiers for ZMMK.TO
152 ETFs have low correlation with ZMMK.TO (below 0.3), 24 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BMO AAA CLO ETF | -0.19 | — | — | 74 | CLO | ZMMK.TO vs ZAAA.NEO | |
| Arrow EC Income Advantage Alternative Fund | -0.13 | -0.07 | -0.04 | 66 | ZMMK.TO vs RATE.TO | ||
| BMO USD Cash Management ETF | -0.11 | — | — | 60 | Money Market | ZMMK.TO vs ZUCM.TO | |
| Purpose Global Bond Fund | -0.07 | -0.00 | — | 53 | Global Bonds | ZMMK.TO vs BND.TO | |
| BMO Short-Term US TIPS Index ETF | -0.07 | -0.02 | — | 61 | Inflation-Protected Bonds | ZMMK.TO vs ZTIP.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ZMMK.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ZMMK.TO and solid risk/return profiles. The least correlated is Whitecap Resources Inc. (WCP.TO) (Energy) with a 1Y correlation of -0.06, roughly unchanged from 0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Whitecap Resources Inc. | -0.06 | -0.00 | 0.01 | 93 | Energy | |
| Canadian Natural Resources Limited | -0.06 | 0.01 | — | 83 | Energy | |
| Rogers Communications Inc | -0.06 | 0.03 | — | 53 | Communication Services | |
| South Bow Corp | -0.03 | — | — | 94 | Energy | |
| Cameco Corporation | -0.01 | -0.04 | — | 64 | Energy |
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