Looking to balance out your exposure to AVGO? The ETFs below have the lowest correlation with AVGO — they tend to move on their own, which can help reduce risk when AVGO drops. The stock ideas table highlights individual companies that behave independently from AVGO.
Best Diversifiers for AVGO
118 ETFs have low correlation with AVGO (below 0.3), 22 of which are negatively correlated. The least correlated is United States Oil Fund LP (USO) (Oil & Gas) with a 1Y correlation of -0.18, down from 0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Oil Fund LP | -0.18 | -0.02 | 0.05 | 66 | Oil & Gas | AVGO vs USO | |
| First Trust Morningstar Dividend Leaders Index Fun... | -0.16 | 0.01 | 0.21 | 70 | Large Cap Value Equities, Dividend | AVGO vs FDL | |
| iShares 0-3 Month Treasury Bond ETF | -0.14 | -0.02 | -0.02 | 100 | Ultrashort Bond | AVGO vs SGOV | |
| State Street Energy Select Sector SPDR ETF | -0.14 | 0.02 | 0.14 | 63 | Energy Equities | AVGO vs XLE | |
| iShares Core High Dividend ETF | -0.14 | -0.00 | 0.22 | 64 | Dividend, Large Cap Value Equities | AVGO vs HDV |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from AVGO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AVGO and solid risk/return profiles. The least correlated is Duke Energy Corporation (DUK) (Utilities) with a 1Y correlation of -0.26, down from -0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Duke Energy Corporation | -0.26 | -0.21 | -0.07 | 53 | Utilities | |
| Verizon Communications Inc. | -0.25 | -0.17 | -0.05 | 59 | Communication Services | |
| RenaissanceRe Holdings Ltd. | -0.24 | -0.04 | 0.06 | 58 | Financial Services | |
| The Coca-Cola Company | -0.21 | -0.17 | 0.02 | 66 | Consumer Defensive | |
| Cboe Global Markets, Inc. | -0.20 | -0.20 | -0.01 | 68 | Financial Services |
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