Looking to balance out your exposure to AVNS? The ETFs below have the lowest correlation with AVNS — they tend to move on their own, which can help reduce risk when AVNS drops. The stock ideas table highlights individual companies that behave independently from AVNS.
Best Diversifiers for AVNS
8 ETFs have low correlation with AVNS (below 0.3), 1 of which are negatively correlated. The least correlated is SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) (Government Bonds) with a 1Y correlation of -0.00, roughly unchanged from -0.00 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.00 | -0.04 | -0.00 | 100 | Government Bonds, Ultrashort Bond | AVNS vs BIL | |
| Invesco QQQ ETF | 0.19 | 0.22 | 0.33 | 64 | Nasdaq-100 | AVNS vs QQQ | |
| Capital Group International Focus Equity ETF | 0.26 | 0.34 | — | 60 | Foreign Large Cap Equities | AVNS vs CGXU | |
| Capital Group Dividend Value ETF | 0.28 | 0.38 | — | 77 | Large Cap Value Equities, Dividend | AVNS vs CGDV | |
| iShares Core Moderate Allocation ETF | 0.28 | 0.40 | 0.43 | 65 | Diversified Portfolio | AVNS vs AOM |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from AVNS, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AVNS and solid risk/return profiles. The least correlated is Elbit Systems Ltd (ESLT) (Industrials) with a 1Y correlation of -0.09, down from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Elbit Systems Ltd | -0.09 | 0.05 | 0.13 | 83 | Industrials | |
| Warner Bros. Discovery, Inc. | 0.07 | 0.28 | 0.32 | 97 | Communication Services | |
| Consolidated Edison, Inc. | 0.08 | 0.14 | 0.21 | 70 | Utilities | |
| ChipMOS TECHNOLOGIES INC. | 0.10 | 0.15 | 0.18 | 95 | Technology | |
| DNP Select Income Fund Inc. | 0.13 | 0.22 | 0.26 | 89 | Financial Services |
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