Looking to balance out your exposure to DAVA? The ETFs below have the lowest correlation with DAVA — they tend to move on their own, which can help reduce risk when DAVA drops. The stock ideas table highlights individual companies that behave independently from DAVA.
Best Diversifiers for DAVA
1 ETFs have low correlation with DAVA (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard Information Technology ETF (VGT) (Technology Equities) with a 1Y correlation of 0.29, down from 0.45 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Information Technology ETF | 0.29 | 0.36 | 0.45 | 76 | Technology Equities | DAVA vs VGT | |
| State Street SPDR S&P 500 ETF | 0.35 | 0.39 | 0.46 | 70 | S&P 500 | DAVA vs SPY | |
| Vanguard S&P 500 ETF | 0.36 | 0.39 | 0.46 | 70 | S&P 500 | DAVA vs VOO | |
| Schwab U.S. Large-Cap ETF | 0.36 | 0.41 | 0.47 | 67 | Large Cap Blend Equities | DAVA vs SCHX |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from DAVA, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to DAVA and solid risk/return profiles. The least correlated is Zoom Video Communications, Inc. (ZM) (Communication Services) with a 1Y correlation of 0.38, roughly unchanged from 0.44 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Zoom Video Communications, Inc. | 0.38 | 0.41 | 0.44 | 64 | Communication Services |
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