Looking to balance out your exposure to BOOT? The ETFs below have historically moved differently from BOOT, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for BOOT
6 ETFs have low correlation with BOOT (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco BulletShares 2029 Municipal Bond ETF (BSMT) (Municipal Bonds) with a 1Y correlation of 0.09, roughly unchanged from 0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco BulletShares 2029 Municipal Bond ETF | 0.09 | 0.14 | 0.10 | 58 | Municipal Bonds | BOOT vs BSMT | |
| Invesco BulletShares 2028 Municipal Bond ETF | 0.10 | 0.12 | 0.08 | 78 | Municipal Bonds | BOOT vs BSMS | |
| Invesco BulletShares 2030 Municipal Bond ETF | 0.12 | 0.10 | 0.07 | 55 | Municipal Bonds | BOOT vs BSMU | |
| Invesco BulletShares 2027 Municipal Bond ETF | 0.13 | 0.10 | 0.09 | 90 | Municipal Bonds | BOOT vs BSMR | |
| Franklin Liberty Federal Intermediate Tax-Free Bon... | 0.18 | 0.09 | 0.07 | 75 | Municipal Bonds | BOOT vs FLMI |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for BOOT, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Cboe Global Markets, Inc. (CBOE) (Financial Services) with a 1Y correlation of -0.09, down from 0.03 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cboe Global Markets, Inc. | -0.09 | -0.10 | 0.03 | 62 | Financial Services | |
| McKesson Corporation | -0.03 | -0.02 | 0.04 | 62 | Healthcare | |
| Cencora Inc. | -0.02 | -0.02 | 0.06 | 50 | Healthcare | |
| AstraZeneca PLC | 0.04 | 0.10 | 0.11 | 55 | Healthcare | |
| Eli Lilly and Company | 0.06 | 0.10 | 0.11 | 79 | Healthcare |
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