Looking to diversify beyond ZWB.TO? The ETFs below have historically moved differently from ZWB.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 ZWB.TO
14 ETFs have low correlation with ZWB.TO (below 0.3), 4 of which are negatively correlated.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Evolve Canadian Energy Enhanced Yield Index Fund E... | -0.18 | — | — | 84 | Energy Equities | ZWB.TO vs OILY.TO | |
| Global X Canadian Oil and Gas Equity Covered Call ... | -0.16 | 0.15 | 0.29 | 93 | Derivative Income, Energy Equities | ZWB.TO vs ENCC.TO | |
| BMO Equal Weight Oil & Gas Index ETF | -0.14 | 0.15 | 0.30 | 93 | Energy Equities, Equal Weight | ZWB.TO vs ZEO.TO | |
| Evolve Canadian Utilities Enhanced Yield Index Fun... | -0.09 | — | — | 67 | Utilities Equities, Derivative Income, Leveraged Equities | ZWB.TO vs UTES.TO | |
| BMO Covered Call Utilities ETF | 0.00 | 0.32 | 0.40 | 67 | Utilities Equities, Derivative Income | ZWB.TO vs ZWU.TO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for ZWB.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 Whitecap Resources Inc. (WCP.TO) (Energy) with a 1Y correlation of -0.16, down from 0.23 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Whitecap Resources Inc. | -0.16 | 0.08 | 0.23 | 93 | Energy | |
| Enbridge Inc. | 0.00 | 0.25 | 0.37 | 87 | Energy | |
| i-80 Gold Corp | 0.23 | 0.18 | 0.17 | 89 | Basic Materials | |
| SmartCentres Real Estate Investment Trust | 0.31 | 0.43 | 0.48 | 92 | Real Estate |
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