Looking to diversify beyond ZQQ.TO? The ETFs below have the lowest correlation with ZQQ.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 ZQQ.TO.
Best Diversifiers for ZQQ.TO
18 ETFs have low correlation with ZQQ.TO (below 0.3), 7 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Evolve Canadian Utilities Enhanced Yield Index Fun... | -0.30 | — | — | 86 | Derivative Income | ZQQ.TO vs UTES.TO | |
| BMO Covered Call Utilities ETF | -0.21 | 0.01 | 0.17 | 75 | Utilities Equities, Derivative Income | ZQQ.TO vs ZWU.TO | |
| BMO Covered Call Energy ETF | -0.20 | 0.01 | — | 63 | Energy Equities | ZQQ.TO vs ZWEN.TO | |
| BMO Equal Weight Oil & Gas Index ETF | -0.17 | 0.06 | 0.16 | 78 | Energy Equities, Equal Weight | ZQQ.TO vs ZEO.TO | |
| BMO AAA CLO ETF | -0.14 | — | — | 62 | CLO | ZQQ.TO vs ZAAA.NEO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ZQQ.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ZQQ.TO and solid risk/return profiles. The least correlated is Enbridge Inc. (ENB.TO) (Energy) with a 1Y correlation of -0.20, down from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Enbridge Inc. | -0.20 | 0.01 | 0.13 | 89 | Energy | |
| Canadian Natural Resources Limited | -0.18 | 0.06 | 0.15 | 77 | Energy | |
| Dream Industrial Real Estate Investment Trust | 0.25 | 0.31 | 0.35 | 80 | Real Estate | |
| The Toronto-Dominion Bank | 0.39 | 0.31 | 0.34 | 99 | Financial Services | |
| Dividend 15 Split Corp. | 0.48 | 0.38 | 0.38 | 97 | Financial Services |
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