Looking to balance out your exposure to ALV? The ETFs below have the lowest correlation with ALV — they tend to move on their own, which can help reduce risk when ALV drops. The stock ideas table highlights individual companies that behave independently from ALV.
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 0.46, down from 0.57 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 ETF | 0.46 | 0.50 | 0.57 | 70 | S&P 500 | ALV vs VOO | |
| State Street SPDR S&P 500 ETF | 0.47 | 0.50 | 0.57 | 70 | S&P 500 | ALV vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ALV, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ALV and solid risk/return profiles. The least correlated is Apache Corporation (APA) (Energy) with a 1Y correlation of -0.05, down from 0.29 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Apache Corporation | -0.05 | 0.18 | 0.29 | 90 | Energy | |
| Ovintiv Inc. | -0.04 | 0.19 | 0.28 | 81 | Energy | |
| Diamondback Energy, Inc. | -0.03 | 0.16 | 0.26 | 82 | Energy | |
| Cenovus Energy Inc. | 0.00 | 0.19 | 0.29 | 95 | Energy | |
| AppLovin Corporation | 0.04 | 0.15 | 0.28 | 59 | Technology |
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