Looking to diversify beyond ZRR.TO? The ETFs below have the lowest correlation with ZRR.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 ZRR.TO.
Best Diversifiers for ZRR.TO
9 ETFs have low correlation with ZRR.TO (below 0.3), 0 of which are negatively correlated. The least correlated is iShares S&P/TSX Canadian Preferred Share Index ETF (CPD.TO) (Preferred Stock/Convertible Bonds) with a 1Y correlation of 0.10, roughly unchanged from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares S&P/TSX Canadian Preferred Share Index ETF | 0.10 | 0.10 | 0.06 | 93 | Preferred Stock/Convertible Bonds | ZRR.TO vs CPD.TO | |
| BMO Money Market Fund ETF Series | 0.15 | 0.06 | 0.05 | 100 | Money Market | ZRR.TO vs ZMMK.TO | |
| BMO Canadian Dividend ETF | 0.18 | 0.18 | 0.11 | 85 | Canada Equities | ZRR.TO vs ZDV.TO | |
| BMO NASDAQ 100 Equity (CAD Hedged) | 0.20 | 0.12 | 0.08 | 67 | Nasdaq-100 | ZRR.TO vs ZQQ.TO | |
| BMO NASDAQ 100 Equity Index ETF | 0.21 | 0.11 | 0.09 | 74 | Nasdaq-100 | ZRR.TO vs ZNQ.TO |
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