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
125 ETFs have low correlation with ZMMK.TO (below 0.3), 14 of which are negatively correlated. The least correlated is Purpose USD Cash Management ETF (MNU-U.TO) (Ultrashort Bond) with a 1Y correlation of -0.12, roughly unchanged from -0.06 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Purpose USD Cash Management ETF | -0.12 | -0.06 | — | 99 | Ultrashort Bond, Money Market | ZMMK.TO vs MNU-U.TO | |
| Purpose Global Bond Fund | -0.11 | -0.03 | — | 55 | ZMMK.TO vs BND.TO | ||
| Global X 0-3 Month U.S. T-Bill ETF USD | -0.10 | -0.06 | — | 99 | Ultrashort Bond | ZMMK.TO vs UBIL-U.TO | |
| Arrow EC Income Advantage Alternative Fund | -0.10 | -0.07 | — | 62 | ZMMK.TO vs RATE.TO | ||
| Global X USD Cash Maximizer Corporate Class ETF | -0.08 | -0.05 | — | 95 | Money Market | ZMMK.TO vs HSUV-U.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 Canadian Natural Resources Limited (CNQ.TO) (Energy) with a 1Y correlation of -0.09, roughly unchanged from 0.00 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Canadian Natural Resources Limited | -0.09 | 0.02 | 0.00 | 86 | Energy | |
| South Bow Corp | -0.04 | — | — | 90 | Energy | |
| Cameco Corporation | -0.01 | -0.02 | — | 84 | Energy | |
| The Toronto-Dominion Bank | -0.01 | -0.00 | -0.00 | 98 | Financial Services | |
| MDA Space Ltd. | 0.02 | 0.03 | 0.07 | 75 | Industrials |
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