Looking to balance out your exposure to AVA? The ETFs below have historically moved differently from AVA, 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 AVA
2 ETFs have low correlation with AVA (below 0.3), 2 of which are negatively correlated. The least correlated is iShares Core S&P 500 ETF (IVV) (S&P 500) with a 1Y correlation of -0.06, down from 0.19 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Core S&P 500 ETF | -0.06 | 0.10 | 0.19 | 78 | S&P 500 | AVA vs IVV | |
| Vanguard S&P 500 ETF | -0.05 | 0.11 | 0.19 | 78 | S&P 500 | AVA vs VOO |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for AVA, 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 Alliance Resource Partners, L.P. (ARLP) (Energy) with a 1Y correlation of 0.07, roughly unchanged from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Alliance Resource Partners, L.P. | 0.07 | 0.11 | 0.12 | 54 | Energy | |
| The AES Corporation | 0.19 | 0.29 | 0.34 | 62 | Utilities | |
| AbbVie Inc. | 0.33 | 0.32 | 0.30 | 76 | Healthcare | |
| American Electric Power Company, Inc. | 0.59 | 0.61 | 0.62 | 72 | Utilities | |
| Black Hills Corporation | 0.73 | 0.74 | 0.73 | 81 | Utilities |
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