Looking to balance out your exposure to AVDL? The ETFs below have the lowest correlation with AVDL — they tend to move on their own, which can help reduce risk when AVDL drops. The stock ideas table highlights individual companies that behave independently from AVDL.
Best Diversifiers for AVDL
4 ETFs have low correlation with AVDL (below 0.3), 0 of which are negatively correlated. The least correlated is State Street Energy Select Sector SPDR ETF (XLE) (Energy Equities) with a 1Y correlation of 0.08, roughly unchanged from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street Energy Select Sector SPDR ETF | 0.08 | 0.09 | 0.12 | 70 | Energy Equities | AVDL vs XLE | |
| Vanguard S&P 500 ETF | 0.14 | 0.19 | 0.24 | 74 | S&P 500 | AVDL vs VOO | |
| Avantis International Small Cap Value ETF | 0.14 | 0.18 | 0.22 | 80 | Foreign Small & Mid Cap Equities | AVDL vs AVDV | |
| Vanguard FTSE Emerging Markets ETF | 0.15 | 0.18 | 0.19 | 56 | Emerging Markets Equities | AVDL vs VWO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from AVDL, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AVDL and solid risk/return profiles. The least correlated is Silvercorp Metals Inc. (SVM) (Basic Materials) with a 1Y correlation of -0.01, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Silvercorp Metals Inc. | -0.01 | 0.11 | 0.18 | 91 | Basic Materials | |
| Northern Dynasty Minerals Ltd. | 0.00 | 0.12 | 0.14 | 67 | Basic Materials | |
| Riot Platforms, Inc. | 0.03 | 0.15 | 0.20 | 86 | Technology | |
| Hudbay Minerals Inc. | 0.03 | 0.13 | 0.17 | 94 | Basic Materials | |
| Fortuna Silver Mines Inc. | 0.04 | 0.16 | 0.20 | 63 | Basic Materials |
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