Looking to balance out your exposure to AVXL? The ETFs below have the lowest correlation with AVXL — they tend to move on their own, which can help reduce risk when AVXL drops. The stock ideas table highlights individual companies that behave independently from AVXL.
Best Diversifiers for AVXL
0 ETFs have low correlation with AVXL (below 0.3), 0 of which are negatively correlated. The least correlated is SPDR S&P Biotech ETF (XBI) (Health & Biotech Equities) with a 1Y correlation of 0.36, down from 0.63 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SPDR S&P Biotech ETF | 0.36 | 0.52 | 0.63 | 80 | Health & Biotech Equities | AVXL vs XBI |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from AVXL, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AVXL and solid risk/return profiles. The least correlated is Howmet Aerospace Inc. (HWM) (Industrials) with a 1Y correlation of 0.10, down from 0.23 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Howmet Aerospace Inc. | 0.10 | 0.14 | 0.23 | 79 | Industrials |
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