Looking to diversify beyond ZWP.TO? The ETFs below have the lowest correlation with ZWP.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 ZWP.TO.
Best Diversifiers for ZWP.TO
9 ETFs have low correlation with ZWP.TO (below 0.3), 4 of which are negatively correlated. The least correlated is iShares S&P/TSX Capped Energy Index ETF (XEG.TO) (Energy Equities) with a 1Y correlation of -0.10, down from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares S&P/TSX Capped Energy Index ETF | -0.10 | 0.06 | 0.11 | 86 | Energy Equities | ZWP.TO vs XEG.TO | |
| Global X Canadian Oil and Gas Equity Covered Call ... | -0.08 | 0.09 | 0.12 | 85 | Derivative Income, Energy Equities | ZWP.TO vs ENCC.TO | |
| Global X Enhanced Canadian Oil and Gas Equity Cove... | -0.06 | 0.08 | 0.08 | 85 | Oil & Gas, Derivative Income | ZWP.TO vs ENCL.TO | |
| Hamilton Energy YIELD MAXIMIZER ETF | -0.06 | — | — | 70 | Energy Equities, Derivative Income | ZWP.TO vs EMAX.TO | |
| BMO Money Market Fund ETF Series | 0.04 | 0.03 | — | 100 | Money Market | ZWP.TO vs ZMMK.TO |
See all 31 diversifiers for ZWP.TO
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