Looking to diversify beyond ZSB.TO? The ETFs below have the lowest correlation with ZSB.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 ZSB.TO.
Best Diversifiers for ZSB.TO
15 ETFs have low correlation with ZSB.TO (below 0.3), 1 of which are negatively correlated. The least correlated is Global X 0-3 Month T-Bill ETF (CBIL.TO) (Canadian Government Bonds) with a 1Y correlation of -0.07, down from 0.05 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X 0-3 Month T-Bill ETF | -0.07 | 0.05 | — | 99 | Canadian Government Bonds | ZSB.TO vs CBIL.TO | |
| iShares Floating Rate Index ETF | 0.00 | -0.02 | 0.00 | 98 | Canadian Government Bonds | ZSB.TO vs XFR.TO | |
| Global X High Interest Savings ETF | 0.01 | 0.07 | — | 100 | Money Market | ZSB.TO vs CASH.TO | |
| BMO Money Market Fund ETF Series | 0.04 | 0.01 | — | 100 | Money Market | ZSB.TO vs ZMMK.TO | |
| TD Cash Management ETF | 0.11 | — | — | 99 | Canadian Government Bonds | ZSB.TO vs TCSH.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ZSB.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ZSB.TO and solid risk/return profiles. The least correlated is Canadian Natural Resources Limited (CNQ.TO) (Energy) with a 1Y correlation of -0.29, down from -0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Canadian Natural Resources Limited | -0.29 | -0.14 | -0.14 | 86 | Energy | |
| Pembina Pipeline Corporation | -0.06 | 0.02 | -0.01 | 83 | Energy | |
| Cameco Corporation | 0.05 | 0.02 | -0.01 | 84 | Energy | |
| Fortis Inc. | 0.15 | 0.23 | 0.22 | 79 | Utilities | |
| Teck Resources Limited | 0.18 | 0.09 | 0.02 | 84 | Basic Materials |
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Build a portfolio that complements ZSB.TO
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