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
635 ETFs have low correlation with CBOA (below 0.3), 28 of which are negatively correlated. The least correlated is Direxion Daily NFLX Bear 1X Shares (NFXS) (Inverse Equities) with a 1Y correlation of -0.15, roughly unchanged from -0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Direxion Daily NFLX Bear 1X Shares | -0.15 | -0.17 | -0.17 | 55 | Inverse Equities | CBOA vs NFXS | |
| Brookmont Catastrophic Bond ETF | -0.13 | -0.12 | -0.12 | 96 | Nontraditional Bonds | CBOA vs ILS | |
| F/m Ultrashort Treasury Inflation-Protected Securi... | -0.11 | -0.09 | -0.09 | 97 | Inflation-Protected Bonds | CBOA vs RBIL | |
| iShares Enhanced Short-Term Bond Active ETF | -0.10 | — | — | 99 | Ultrashort Bond | CBOA vs CSHP | |
| ProShares UltraShort Yen | -0.08 | -0.05 | -0.05 | 63 | Leveraged Currency | CBOA vs YCS |
See all 1948 diversifiers for CBOA
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