Looking to balance out your exposure to ALVO? The ETFs below have the lowest correlation with ALVO — they tend to move on their own, which can help reduce risk when ALVO drops. The stock ideas table highlights individual companies that behave independently from ALVO.
Best Diversifiers for ALVO
5 ETFs have low correlation with ALVO (below 0.3), 0 of which are negatively correlated. The least correlated is iShares Core MSCI Emerging Markets ETF (IEMG) (Emerging Markets Diversified) with a 1Y correlation of 0.13, roughly unchanged from 0.15 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Core MSCI Emerging Markets ETF | 0.13 | 0.15 | — | 53 | Emerging Markets Diversified | ALVO vs IEMG | |
| Invesco NASDAQ 100 ETF | 0.14 | 0.16 | — | 54 | Nasdaq-100 | ALVO vs QQQM | |
| Global X Hydrogen ETF | 0.15 | 0.17 | 0.16 | 52 | Alternative Energy Equities | ALVO vs HYDR | |
| State Street Galaxy Hedged Digital Asset Ecosystem... | 0.18 | — | — | 84 | Blockchain, Equity Hedged | ALVO vs HECO | |
| Invesco Nasdaq Biotechnology ETF | 0.30 | 0.20 | — | 90 | Health & Biotech Equities | ALVO vs IBBQ |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ALVO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ALVO and solid risk/return profiles. The least correlated is NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of 0.05, roughly unchanged from 0.09 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | 0.05 | 0.09 | — | 63 | Technology | |
| Super Group (SGHC) Limited | 0.10 | 0.12 | — | 63 | Consumer Cyclical | |
| Catalyst Pharmaceuticals, Inc. | 0.22 | 0.16 | — | 86 | Healthcare |
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