Looking to balance out your exposure to AEVA? The ETFs below have the lowest correlation with AEVA — they tend to move on their own, which can help reduce risk when AEVA drops. The stock ideas table highlights individual companies that behave independently from AEVA.
Best Diversifiers for AEVA
1 ETFs have low correlation with AEVA (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco Variable Rate Investment Grade ETF (VRIG) (Ultrashort Bond) with a 1Y correlation of 0.05, roughly unchanged from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco Variable Rate Investment Grade ETF | 0.05 | 0.03 | 0.04 | 99 | Ultrashort Bond | AEVA vs VRIG | |
| State Street SPDR S&P 500 ETF | 0.46 | 0.43 | 0.46 | 65 | S&P 500 | AEVA vs SPY | |
| Invesco S&P 500 Momentum ETF | 0.48 | 0.40 | 0.39 | 51 | Momentum, S&P 500 | AEVA vs SPMO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from AEVA, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AEVA and solid risk/return profiles. The least correlated is Occidental Petroleum Corporation (OXY) (Energy) with a 1Y correlation of -0.10, down from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Occidental Petroleum Corporation | -0.10 | 0.05 | 0.12 | 67 | Energy | |
| Verizon Communications Inc. | -0.08 | 0.00 | 0.01 | 61 | Communication Services | |
| Humana Inc. | -0.02 | -0.02 | 0.02 | 78 | Healthcare | |
| Eli Lilly and Company | 0.00 | 0.07 | 0.06 | 79 | Healthcare | |
| Bristol-Myers Squibb Company | 0.03 | 0.06 | 0.05 | 80 | Healthcare |
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