Looking to balance out your exposure to AVPT? The ETFs below have the lowest correlation with AVPT — they tend to move on their own, which can help reduce risk when AVPT drops. The stock ideas table highlights individual companies that behave independently from AVPT.
Best Diversifiers for AVPT
1 ETFs have low correlation with AVPT (below 0.3), 0 of which are negatively correlated. The least correlated is Direxion Daily Semiconductor Bull 3X ETF (SOXL) (Leveraged Equities) with a 1Y correlation of 0.15, down from 0.32 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Direxion Daily Semiconductor Bull 3X ETF | 0.15 | 0.32 | — | 97 | Leveraged Equities, Semiconductors | AVPT vs SOXL | |
| State Street SPDR S&P 500 ETF | 0.38 | 0.46 | — | 74 | S&P 500 | AVPT vs SPY | |
| Invesco QQQ ETF | 0.40 | 0.46 | — | 74 | Nasdaq-100 | AVPT vs QQQ |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from AVPT, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AVPT and solid risk/return profiles. The least correlated is Equinox Gold Corp. (EQX) (Basic Materials) with a 1Y correlation of 0.08, roughly unchanged from 0.13 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Equinox Gold Corp. | 0.08 | 0.13 | — | 70 | Basic Materials | |
| Tesla, Inc. | 0.10 | 0.25 | 0.32 | 58 | Consumer Cyclical | |
| Avino Silver & Gold Mines Ltd. | 0.14 | 0.16 | — | 73 | Basic Materials | |
| Xeris Biopharma Holdings, Inc. | 0.15 | 0.26 | — | 61 | Healthcare | |
| Reddit, Inc. | 0.25 | — | — | 64 | Communication Services |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements AVPT
Add AVPT to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with AVPT