Looking to diversify beyond PAVE.L? The ETFs below have the lowest correlation with PAVE.L — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from PAVE.L.
Best Diversifiers for PAVE.L
0 ETFs have low correlation with PAVE.L (below 0.3), 0 of which are negatively correlated. The least correlated is Global X NASDAQ 100 Covered Call UCITS ETF Dis GBP (QYLP.L) (Nasdaq-100) with a 1Y correlation of 0.32, roughly unchanged from 0.39 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X NASDAQ 100 Covered Call UCITS ETF Dis GBP | 0.32 | 0.39 | — | 86 | Nasdaq-100, Options Trading | PAVE.L vs QYLP.L | |
| Global X SuperDividend UCITS ETF USD Distributing | 0.48 | 0.53 | — | 87 | Dividend | PAVE.L vs SDIP.L | |
| iShares S&P 500 Industrials Sector UCITS ETF USD (... | 0.86 | 0.85 | — | 54 | Industrials Equities, S&P 500 | PAVE.L vs IISU.L | |
| Invesco US Industrials Sector UCITS ETF | 0.86 | 0.86 | — | 54 | Industrials Equities | PAVE.L vs XLIP.L |
Diversification Analysis
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