Here's 3 shares to quickly diversify your portfolio

Every portfolio needs a bit of diversification.

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There are a number of benefits from having a diversified portfolio, but there can also be a few problems as well.

'Di-worsification' is a made-up phrase to describe decreasing the returns of your portfolio just for the sake of increased diversification. The key is to find different businesses and industries that you don't own that will maintain or even improve your returns.

Here are three shares that you likely don't own that diversify your portfolio:

Afterpay Touch Group Ltd (ASX: APT)

Afterpay has developed the technology to allow leading retailers to offer a 'buy now, receive now, pay later' service that doesn't require end-customers to enter into a traditional loan or pay any upfront fees or interest to Afterpay.

This service is very popular with retailers and customers alike which is why the company is experiencing such fast growth in its 'loan' book, which is consequently driving its revenue upwards at a fast rate.

BWX Limited (ASX: BWX)

BWX is Australia's leading natural beauty brand with a number of natural brands including Sukin, Uspa, Renew, Edward Beale, Mineral Fusion and Andalou Naturals.

All of these brands together have a great opportunity to cement BWX as the clear leader in Australia and rapidly expand in the USA, the UK and Canada. BWX is selling its products in many other countries as well, which should all add to future earnings.

BWX has been one of the best performing small-ish cap stocks over the past two years and I think it will continue to be a strong performer thanks to expansion in the USA.

BWX is currently trading at 29x FY18's estimated earnings with a grossed-up dividend yield of 1.25%.

Healthscope Ltd (ASX: HSO)

Healthscope is the second largest private hospital operator in Australia and is on track to grow a lot more over the next few years as it adds 566 hospital beds and 38 operating theatres by FY19.

The business should benefit from ageing tailwinds as the number of over-65s increases by 75% over the next 20 years.

The business may not generate huge growth, but it should be a slow-and-steady grower over the next two decades.

Healthscope is trading at 21x FY18's estimated earnings with an unfranked dividend yield of 3.32%.

Foolish takeaway

I believe all three shares are good investment opportunities but at today's prices I'm most excited by BWX. I believe its global sales growth potential makes it a very good prospect.

Motley Fool contributor Tristan Harrison owns shares of BWX Limited and HEALTHSCPE DEF SET. The Motley Fool Australia owns shares of and has recommended BWX Limited. The Motley Fool Australia owns shares of AFTERPAY T FPO. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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