Looking to balance out your exposure to ALV? The ETFs below have historically moved differently from ALV, 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 ALV
0 ETFs have low correlation with ALV (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard S&P 500 ETF (VOO) (S&P 500) with a 1Y correlation of 0.43, down from 0.56 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 ETF | 0.43 | 0.49 | 0.56 | 72 | S&P 500 | ALV vs VOO | |
| State Street SPDR S&P 500 ETF | 0.44 | 0.49 | 0.56 | 72 | S&P 500 | ALV vs SPY |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for ALV, 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 Range Resources Corporation (RRC) (Energy) with a 1Y correlation of -0.10, down from 0.19 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Range Resources Corporation | -0.10 | 0.08 | 0.19 | 56 | Energy | |
| Apache Corporation | -0.06 | 0.15 | 0.27 | 89 | Energy | |
| Ovintiv Inc. | -0.04 | 0.17 | 0.26 | 84 | Energy | |
| Diamondback Energy, Inc. | -0.04 | 0.13 | 0.24 | 73 | Energy | |
| Targa Resources Corp. | -0.03 | 0.12 | 0.26 | 91 | Energy |
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