Looking to balance out your exposure to CBOE? The ETFs below have the lowest correlation with CBOE — they tend to move on their own, which can help reduce risk when CBOE drops. The stock ideas table highlights individual companies that behave independently from CBOE.
Best Diversifiers for CBOE
22 ETFs have low correlation with CBOE (below 0.3), 17 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| YieldMax Semiconductor Portfolio Option Income ETF | -0.23 | — | — | 94 | Derivative Income, Semiconductors | CBOE vs CHPY | |
| State Street Technology Select Sector SPDR ETF | -0.20 | -0.21 | 0.04 | 63 | Technology Equities | CBOE vs XLK | |
| Fidelity MSCI Information Technology Index ETF | -0.19 | -0.21 | 0.04 | 58 | Technology Equities | CBOE vs FTEC | |
| JPMorgan Nasdaq Equity Premium Income ETF | -0.18 | -0.19 | — | 65 | Nasdaq-100, Derivative Income | CBOE vs JEPQ | |
| Invesco QQQ ETF | -0.17 | -0.20 | 0.06 | 58 | Nasdaq-100 | CBOE vs QQQ |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CBOE, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CBOE and solid risk/return profiles. The least correlated is Taiwan Semiconductor Manufacturing Company Limited (TSM) (Technology) with a 1Y correlation of -0.27, down from -0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Taiwan Semiconductor Manufacturing Company Limited | -0.27 | -0.26 | -0.09 | 92 | Technology | |
| Broadcom Inc. | -0.23 | -0.23 | -0.02 | 71 | Technology | |
| Micron Technology, Inc. | -0.23 | -0.23 | -0.06 | 99 | Technology | |
| Western Digital Corporation | -0.23 | -0.19 | -0.03 | 99 | Technology | |
| Eaton Corporation plc | -0.23 | -0.20 | 0.02 | 57 | Industrials |
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