Looking to diversify beyond CBOA? The ETFs below have the lowest correlation with CBOA — 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 CBOA.
Best Diversifiers for CBOA
735 ETFs have low correlation with CBOA (below 0.3), 31 of which are negatively correlated. The least correlated is Proshares Ultrashort Bitcoin ETF (SBIT) (Cryptocurrency) with a 1Y correlation of -0.92, roughly unchanged from -0.90 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Proshares Ultrashort Bitcoin ETF | -0.92 | -0.90 | -0.90 | 52 | Cryptocurrency, Leveraged Cryptocurrency | CBOA vs SBIT | |
| ProShares Short Bitcoin ETF | -0.92 | -0.89 | -0.89 | 57 | Cryptocurrency | CBOA vs BITI | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.79 | — | — | 68 | Inverse Equities, Leveraged Equities | CBOA vs MSTZ | |
| Defiance Daily Target 2X Short MSTR ETF | -0.79 | — | — | 60 | Inverse Equities | CBOA vs SMST | |
| YieldMax Short MSTR Option Income Strategy ETF | -0.76 | — | — | 70 | Derivative Income | CBOA vs WNTR |
See all 2048 diversifiers for CBOA
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