Looking to diversify beyond ZUT.TO? The ETFs below have historically moved differently from ZUT.TO, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for ZUT.TO
34 ETFs have low correlation with ZUT.TO (below 0.3), 0 of which are negatively correlated. The least correlated is BMO Money Market Fund ETF Series (ZMMK.TO) (Money Market) with a 1Y correlation of 0.05, roughly unchanged from 0.02 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BMO Money Market Fund ETF Series | 0.05 | 0.04 | 0.02 | 99 | Money Market | ZUT.TO vs ZMMK.TO | |
| Vanguard Canadian Short-Term Bond Index ETF | 0.05 | 0.21 | 0.20 | 52 | Short-Term Bond | ZUT.TO vs VSB.TO | |
| BMO Equal Weight Banks Index ETF | 0.05 | 0.38 | 0.32 | 98 | Financials Equities, Equal Weight | ZUT.TO vs ZEB.TO | |
| iShares S&P/TSX Capped Financials Index ETF | 0.07 | 0.42 | 0.37 | 97 | Financials Equities, Canada Equities | ZUT.TO vs XFN.TO | |
| iShares S&P/TSX Capped Energy Index ETF | 0.09 | 0.13 | 0.14 | 85 | Energy Equities, Canada Equities | ZUT.TO vs XEG.TO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for ZUT.TO, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Hydro One Limited (H.TO) (Utilities) with a 1Y correlation of 0.20, down from 0.51 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Hydro One Limited | 0.20 | 0.44 | 0.51 | 81 | Utilities | |
| Cameco Corporation | 0.25 | 0.21 | 0.22 | 62 | Energy | |
| Fortis Inc. | 0.28 | 0.49 | 0.54 | 83 | Utilities |
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