Looking to diversify beyond ZPW.TO? The ETFs below have the lowest correlation with ZPW.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 ZPW.TO.
Best Diversifiers for ZPW.TO
3 ETFs have low correlation with ZPW.TO (below 0.3), 1 of which are negatively correlated. The least correlated is BMO Covered Call Utilities ETF (ZWU.TO) (Utilities Equities) with a 1Y correlation of -0.05, down from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BMO Covered Call Utilities ETF | -0.05 | 0.05 | 0.13 | 67 | Utilities Equities, Derivative Income | ZPW.TO vs ZWU.TO | |
| BMO Canadian Dividend ETF | 0.21 | 0.28 | 0.31 | 97 | Canada Equities | ZPW.TO vs ZDV.TO | |
| BMO Covered Call Canadian Banks ETF | 0.29 | 0.30 | 0.33 | 97 | Financials Equities, Derivative Income, Options Trading | ZPW.TO vs ZWB.TO | |
| BMO Equal Weight Banks Index ETF | 0.31 | 0.32 | 0.34 | 98 | Financials Equities, Equal Weight | ZPW.TO vs ZEB.TO | |
| BMO S&P/TSX Capped Composite Index ETF | 0.32 | 0.35 | 0.40 | 86 | Canada Equities | ZPW.TO vs ZCN.TO |
See all 10 diversifiers for ZPW.TO
To view more results, upgrade your current subscription plan.
Diversification Analysis
Build a portfolio that complements ZPW.TO
Add ZPW.TO to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with ZPW.TO