Looking to balance out your exposure to BOOT? The ETFs below have the lowest correlation with BOOT — they tend to move on their own, which can help reduce risk when BOOT drops. The stock ideas table highlights individual companies that behave independently from BOOT.
Best Diversifiers for BOOT
5 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 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco BulletShares 2029 Municipal Bond ETF | 0.09 | 0.11 | 0.09 | 80 | Municipal Bonds | BOOT vs BSMT | |
| Invesco BulletShares 2027 Municipal Bond ETF | 0.09 | 0.09 | 0.07 | 94 | Municipal Bonds | BOOT vs BSMR | |
| Franklin Liberty Federal Intermediate Tax-Free Bon... | 0.10 | 0.07 | 0.06 | 75 | Municipal Bonds | BOOT vs FLMI | |
| Invesco BulletShares 2028 Municipal Bond ETF | 0.11 | 0.11 | 0.06 | 83 | Municipal Bonds | BOOT vs BSMS | |
| Invesco BulletShares 2030 Municipal Bond ETF | 0.11 | 0.09 | 0.06 | 72 | Municipal Bonds | BOOT vs BSMU |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from BOOT, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to BOOT and solid risk/return profiles. The least correlated is Cboe Global Markets, Inc. (CBOE) (Financial Services) with a 1Y correlation of -0.13, down from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cboe Global Markets, Inc. | -0.13 | -0.12 | 0.04 | 68 | Financial Services | |
| AstraZeneca PLC | 0.01 | 0.10 | 0.11 | 70 | Healthcare | |
| Eli Lilly and Company | 0.04 | 0.10 | 0.11 | 72 | Healthcare | |
| Walmart Inc. | 0.06 | 0.13 | 0.16 | 63 | Consumer Defensive | |
| Wheaton Precious Metals Corp. | 0.06 | 0.09 | 0.11 | 64 | Basic Materials |
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