Looking to balance out your exposure to AVO? The ETFs below have the lowest correlation with AVO — they tend to move on their own, which can help reduce risk when AVO drops. The stock ideas table highlights individual companies that behave independently from AVO.
Best Diversifiers for AVO
2 ETFs have low correlation with AVO (below 0.3), 1 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of -0.04, down from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | -0.04 | 0.12 | 0.22 | 53 | Nasdaq-100 | AVO vs QQQ | |
| State Street SPDR S&P 500 ETF | 0.03 | 0.21 | 0.29 | 65 | S&P 500 | AVO vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from AVO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AVO and solid risk/return profiles. The least correlated is Ciena Corporation (CIEN) (Technology) with a 1Y correlation of -0.02, down from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Ciena Corporation | -0.02 | 0.11 | 0.17 | 98 | Technology | |
| Nektar Therapeutics | -0.02 | 0.16 | 0.18 | 90 | Healthcare | |
| FormFactor, Inc. | -0.01 | 0.13 | 0.19 | 94 | Technology | |
| Clear Channel Outdoor Holdings, Inc. | 0.01 | 0.17 | 0.23 | 94 | Communication Services | |
| Ross Stores, Inc. | 0.12 | 0.15 | 0.24 | 97 | Consumer Cyclical |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements AVO
Add AVO to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with AVO