Looking to diversify beyond ZWU.TO? The ETFs below have historically moved differently from ZWU.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 ZWU.TO
57 ETFs have low correlation with ZWU.TO (below 0.3), 33 of which are negatively correlated. The least correlated is BMO Covered Call Technology ETF (ZWT.TO) (Technology Equities) with a 1Y correlation of -0.33, down from 0.01 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BMO Covered Call Technology ETF | -0.33 | -0.15 | 0.01 | 54 | Technology Equities, Derivative Income | ZWU.TO vs ZWT.TO | |
| Hamilton EnhancedTechnology DayMAX™ ETF | -0.32 | — | — | 62 | Derivative Income | ZWU.TO vs QDAY.NEO | |
| Evolve NASDAQ Technology Enhanced Yield Index Fund | -0.29 | — | — | 59 | Nasdaq-100, Derivative Income | ZWU.TO vs QQQY.TO | |
| Global X NASDAQ-100 Covered Call ETF | -0.26 | -0.08 | 0.06 | 68 | Nasdaq-100, Derivative Income | ZWU.TO vs QQCC.TO | |
| JPMorgan Nasdaq Equity Premium Income Active ETF | -0.25 | — | — | 70 | Nasdaq-100, Derivative Income | ZWU.TO vs JEPQ.TO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for ZWU.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 CT Real Estate Investment Trust (CRT-UN.TO) (Real Estate) with a 1Y correlation of 0.27, down from 0.44 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| CT Real Estate Investment Trust | 0.27 | 0.41 | 0.44 | 90 | Real Estate | |
| Canadian Utilities Limited | 0.51 | 0.62 | 0.61 | 98 | Utilities | |
| Fortis Inc. | 0.69 | 0.73 | 0.69 | 83 | Utilities |
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