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.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BMO AAA CLO ETF | -0.19 | — | — | 62 | CLO | ZMMK.TO vs ZAAA.NEO | |
| Arrow EC Income Advantage Alternative Fund | -0.13 | -0.07 | — | 63 | ZMMK.TO vs RATE.TO | ||
| Purpose Global Bond Fund | -0.07 | -0.00 | — | 56 | Global Bonds | ZMMK.TO vs BND.TO | |
| Purpose USD Cash Management ETF | -0.06 | 0.01 | — | 100 | Ultrashort Bond, Money Market | ZMMK.TO vs MNU-U.TO | |
| Global X 0-3 Month T-Bill ETF | -0.05 | -0.00 | — | 99 | Canadian Government Bonds | ZMMK.TO vs CBIL.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 -0.04, roughly unchanged from 0.00 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Canadian Natural Resources Limited | -0.04 | 0.02 | 0.00 | 77 | Energy | |
| Cameco Corporation | -0.02 | -0.03 | — | 75 | Energy | |
| The Toronto-Dominion Bank | -0.01 | -0.00 | — | 99 | Financial Services | |
| South Bow Corp | -0.01 | — | — | 91 | Energy | |
| MDA Space Ltd. | 0.03 | 0.03 | 0.07 | 71 | Industrials |
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