Looking to balance out your exposure to AVY? The ETFs below have the lowest correlation with AVY — they tend to move on their own, which can help reduce risk when AVY drops. The stock ideas table highlights individual companies that behave independently from AVY.
Best Diversifiers for AVY
1 ETFs have low correlation with AVY (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.29, down from 0.56 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.29 | 0.42 | 0.56 | 70 | S&P 500 | AVY vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from AVY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AVY and solid risk/return profiles. The least correlated is CF Industries Holdings, Inc. (CF) (Basic Materials) with a 1Y correlation of -0.10, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| CF Industries Holdings, Inc. | -0.10 | 0.12 | 0.18 | 60 | Basic Materials | |
| Exxon Mobil Corporation | 0.04 | 0.17 | 0.24 | 85 | Energy | |
| ConocoPhillips Company | 0.05 | 0.18 | 0.23 | 76 | Energy | |
| NIO Inc. | 0.06 | 0.23 | 0.28 | 67 | Consumer Cyclical | |
| Chevron Corporation | 0.06 | 0.19 | 0.25 | 83 | Energy |
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