High and Low BETA stocks (Market Close, May 15, 2023)
Which stocks have high or low BETA values?
This page provides the 25 highest and lowest BETA stocks.
The BETA of a stock is the degree of correlation between that stock and a specific stock index. In our case, we use the $SPY, or the S&P 500 Index ETF to calculate annual BETA based on daily adjusted close prices.
Recently these stocks have acted very differently from each other. They reflect market sentiment in early market trading and in pre-market. That is valuable to us.
We also notice that gold stocks are now showing a positive BETA with the diversified index.
A stock with a very high BETA exaggerates and amplifies the movements of stock index. High BETA stocks may be more risky, as they act as a leveraged 'bet' on the overall stock market.
A stock with a very low BETA moves very little relative to the overall market, and in some cases moves independently to the exchange. As an example, Kellogg stock moves with customer's preference for Tony the Tiger on their cereal box and likely not due to economic conditions. Stocks with low BETA tend to be seen as safe and less volatile.
If the overall US equities markets move, high BETA stocks tend to move more, and low BETA stocks tend to move less, all other conditions being equal.
We see fewer high and low BETA stocks in the past few weeks. This trend continues. It is like stocks are blowing out their correlations due to over-trading and sector / stock rotations by the 'big money' people.
We see fewer high and low BETA stocks of profitable companies.
This page provides the 25 highest and lowest BETA stocks.
The BETA of a stock is the degree of correlation between that stock and a specific stock index. In our case, we use the $SPY, or the S&P 500 Index ETF to calculate annual BETA based on daily adjusted close prices.
Recently these stocks have acted very differently from each other. They reflect market sentiment in early market trading and in pre-market. That is valuable to us.
We also notice that gold stocks are now showing a positive BETA with the diversified index.
A stock with a very high BETA exaggerates and amplifies the movements of stock index. High BETA stocks may be more risky, as they act as a leveraged 'bet' on the overall stock market.
A stock with a very low BETA moves very little relative to the overall market, and in some cases moves independently to the exchange. As an example, Kellogg stock moves with customer's preference for Tony the Tiger on their cereal box and likely not due to economic conditions. Stocks with low BETA tend to be seen as safe and less volatile.
If the overall US equities markets move, high BETA stocks tend to move more, and low BETA stocks tend to move less, all other conditions being equal.
We see fewer high and low BETA stocks in the past few weeks. This trend continues. It is like stocks are blowing out their correlations due to over-trading and sector / stock rotations by the 'big money' people.
We see fewer high and low BETA stocks of profitable companies.
25 High BETA Stocks
0 AFRM 3.68876 Affirm Holdings Inc
1 NVTA 3.49752 Invitae Corp
2 CVNA 3.26756 Carvana Co.
3 OPEN 3.15749 Opendoor Technologies Inc
4 REAL 3.15287 Therealreal Inc
5 MARA 3.14120 MARATHON DIGITAL HOLDINGS INC.
6 APPS 3.05993 Digital Turbine Inc
7 W 3.05926 Wayfair Inc
8 AMRS 3.05350 Amyris Inc
9 COIN 2.98433 Coinbase Global Inc
10 CDLX 2.98165 Cardlytics Inc
11 HUT 2.96870 Hut 8 Mining Corp
12 MSTR 2.91850 Microstrategy Inc.
13 CKPT 2.88206 Checkpoint Therapeutics Inc
14 RDFN 2.83837 Redfin Corp
15 U 2.83550 Unity Software Inc
16 SKLZ 2.82885 Skillz Inc
17 COMP 2.81126 Compass Inc
18 PACB 2.81061 Pacific Biosciences of California Inc
19 SDIG 2.80747 Stronghold Digital Mining Inc
20 UPST 2.77629 Upstart Holdings Inc
21 VLD 2.76979 Velo3D Inc
22 SLQT 2.76475 SelectQuote Inc
23 RIOT 2.71325 Riot Platforms Inc
24 AMTX 2.65028 Aemetis Inc
1 NVTA 3.49752 Invitae Corp
2 CVNA 3.26756 Carvana Co.
3 OPEN 3.15749 Opendoor Technologies Inc
4 REAL 3.15287 Therealreal Inc
5 MARA 3.14120 MARATHON DIGITAL HOLDINGS INC.
6 APPS 3.05993 Digital Turbine Inc
7 W 3.05926 Wayfair Inc
8 AMRS 3.05350 Amyris Inc
9 COIN 2.98433 Coinbase Global Inc
10 CDLX 2.98165 Cardlytics Inc
11 HUT 2.96870 Hut 8 Mining Corp
12 MSTR 2.91850 Microstrategy Inc.
13 CKPT 2.88206 Checkpoint Therapeutics Inc
14 RDFN 2.83837 Redfin Corp
15 U 2.83550 Unity Software Inc
16 SKLZ 2.82885 Skillz Inc
17 COMP 2.81126 Compass Inc
18 PACB 2.81061 Pacific Biosciences of California Inc
19 SDIG 2.80747 Stronghold Digital Mining Inc
20 UPST 2.77629 Upstart Holdings Inc
21 VLD 2.76979 Velo3D Inc
22 SLQT 2.76475 SelectQuote Inc
23 RIOT 2.71325 Riot Platforms Inc
24 AMTX 2.65028 Aemetis Inc
25 Lowest BETA stocks (but still > 0.01):
1 INVA 0.00353 Innoviva Inc
2 SHY 0.02189 iShares 1-3 Year Treasury Bond ETF
3 BBAI 0.04142 BigBear.ai Holdings Inc
4 LIN 0.06576 Linde Plc.
5 TLT 0.06869 iShares 20+ Year Treasury Bond ETF
6 SAFE 0.07906 Safehold Inc.
7 MGI 0.09692 Moneygram International Inc.
8 ASPS 0.10228 Altisource Portfolio Solutions S.A.
9 CARM 0.13083 Carisma Therapeutics Inc
10 CANO 0.13569 Cano Health Inc
11 CYTK 0.14060 Cytokinetics Inc
12 AVTA 0.16724 Avantax Inc
13 BCLI 0.17508 Brainstorm Cell Therapeutics Inc.
14 AAAU 0.17630 Goldman Sachs Physical Gold ETF
15 ZVRA 0.17900 Zevra Therapeutics Inc
16 GLD 0.18043 SSgA SPDR Gold Shares
17 ACRX 0.18986 Acelrx Pharmaceuticals Inc
18 PNM 0.19769 PNM Resources Inc
19 ETNB 0.20062 89bio Inc
20 PEAK 0.20532 Healthpeak Properties Inc.
21 CEQPp 0.20817 Crestwood Equity Partners LP
22 FCN 0.22998 FTI Consulting Inc.
23 CLNN 0.23099 Clene Inc
24 UDN 0.23686 Invesco DB US Dollar Index Bearish Fund -1x Shares
25 XWEL 0.24998 XWELL Inc
2 SHY 0.02189 iShares 1-3 Year Treasury Bond ETF
3 BBAI 0.04142 BigBear.ai Holdings Inc
4 LIN 0.06576 Linde Plc.
5 TLT 0.06869 iShares 20+ Year Treasury Bond ETF
6 SAFE 0.07906 Safehold Inc.
7 MGI 0.09692 Moneygram International Inc.
8 ASPS 0.10228 Altisource Portfolio Solutions S.A.
9 CARM 0.13083 Carisma Therapeutics Inc
10 CANO 0.13569 Cano Health Inc
11 CYTK 0.14060 Cytokinetics Inc
12 AVTA 0.16724 Avantax Inc
13 BCLI 0.17508 Brainstorm Cell Therapeutics Inc.
14 AAAU 0.17630 Goldman Sachs Physical Gold ETF
15 ZVRA 0.17900 Zevra Therapeutics Inc
16 GLD 0.18043 SSgA SPDR Gold Shares
17 ACRX 0.18986 Acelrx Pharmaceuticals Inc
18 PNM 0.19769 PNM Resources Inc
19 ETNB 0.20062 89bio Inc
20 PEAK 0.20532 Healthpeak Properties Inc.
21 CEQPp 0.20817 Crestwood Equity Partners LP
22 FCN 0.22998 FTI Consulting Inc.
23 CLNN 0.23099 Clene Inc
24 UDN 0.23686 Invesco DB US Dollar Index Bearish Fund -1x Shares
25 XWEL 0.24998 XWELL Inc
Stocks with very low, positive BETA do not move with changes in the S&P 500. They act independently of the overall market movements. Some are consumer staples, small banks, or utilities that have not been moving very much (and demand seems impervious to economic cycles). These may be considered safer in a downward moving market.
Others are moving by their own force (e.g., R&D, or politically driven), like Cytokinetics, Inc. $CYTK or COMSovereign Holding Corp. $COMS.
Others are moving by their own force (e.g., R&D, or politically driven), like Cytokinetics, Inc. $CYTK or COMSovereign Holding Corp. $COMS.