Looking to diversify beyond ZPS.TO? The ETFs below have the lowest correlation with ZPS.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 ZPS.TO.
Best Diversifiers for ZPS.TO
4 ETFs have low correlation with ZPS.TO (below 0.3), 0 of which are negatively correlated. The least correlated is BMO NASDAQ 100 Equity Index ETF (ZNQ.TO) (Nasdaq-100) with a 1Y correlation of 0.20, up from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BMO NASDAQ 100 Equity Index ETF | 0.20 | 0.07 | 0.08 | 76 | Nasdaq-100 | ZPS.TO vs ZNQ.TO | |
| BMO Canadian Dividend ETF | 0.25 | 0.22 | 0.14 | 97 | Canada Equities | ZPS.TO vs ZDV.TO | |
| BMO S&P 500 Index ETF | 0.26 | 0.11 | 0.09 | 79 | S&P 500 | ZPS.TO vs ZSP.TO | |
| BMO Equal Weight Banks Index ETF | 0.29 | 0.19 | 0.08 | 98 | Financials Equities, Equal Weight | ZPS.TO vs ZEB.TO | |
| BMO S&P/TSX Capped Composite Index ETF | 0.32 | 0.22 | 0.15 | 86 | Canada Equities | ZPS.TO vs ZCN.TO |
Diversification Analysis
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