High BETA stocks & Low BETA stocks
through January 20, 2023
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.
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.
50 Highest BETA Stocks
0 AFRM Affirm Holdings Inc 2.99384
1 NVTA Invitae Corp 2.77586
2 CVNA Carvana Co. 2.68804
3 REAL Therealreal Inc 2.59124
4 MARA MARATHON DIGITAL HOLDINGS INC. 2.54550
5 MSTR Microstrategy Inc. 2.48041
6 APPS Digital Turbine Inc 2.44909
7 AMRS Amyris Inc 2.44145
8 COIN Coinbase Global Inc 2.43306
9 U Unity Software Inc 2.42457
10 TNA Direxion Dialy Small Cap Bull 3X Shares 2.37913
11 W Wayfair Inc 2.37897
12 ASAN Asana Inc 2.31935
13 CDLX Cardlytics Inc 2.28955
14 RIOT Riot Platforms Inc 2.27142
15 PACB Pacific Biosciences of California Inc 2.27091
16 UPST Upstart Holdings Inc 2.27077
17 NET Cloudflare Inc 2.23255
18 SQ Block Inc 2.21727
19 CFLT Confluent Inc 2.21541
20 CLSK Cleanspark Inc 2.18959
21 HCP HashiCorp Inc 2.17232
22 ACCD Accolade Inc 2.16595
23 TSP TuSimple Holdings Inc 2.16427
24 TGTX TG Therapeutics Inc 2.13160
25 FUBO fuboTV Inc. /FL 2.10631
26 MGNI Magnite Inc 2.09617
27 BNGO Bionano Genomics Inc 2.08915
28 SPT Sprout Social Inc 2.08600
29 GTLB Gitlab Inc 2.08147
30 SI Silvergate Capital Corp 2.05501
31 OCGN Ocugen Inc 2.04513
32 BILL Bill.com Holdings Inc 2.04463
33 RDFN Redfin Corp 2.03932
34 SITM SiTime Corp 2.03448
35 BKKT Bakkt Holdings Inc 2.02889
36 GLBE Global E Online Ltd 1.99848
37 IBRX ImmunityBio Inc 1.97833
38 DNA Ginkgo Bioworks Holdings Inc 1.97562
39 VLD Velo3D Inc 1.97489
40 FSLY Fastly Inc 1.97339
41 TTD Trade Desk Inc 1.95501
42 COMP Compass Inc 1.95370
43 QS QuantumScape Corp 1.95096
44 YELL Yellow Corporation 1.95032
45 SFIX Stitch Fix Inc 1.94944
46 ADPT Adaptive Biotechnologies Corp 1.94594
47 MNDY Monday.Com Ltd 1.94526
48 SANA Sana Biotechnology Inc 1.94344
49 FVRR Fiverr International Ltd 1.94276
1 NVTA Invitae Corp 2.77586
2 CVNA Carvana Co. 2.68804
3 REAL Therealreal Inc 2.59124
4 MARA MARATHON DIGITAL HOLDINGS INC. 2.54550
5 MSTR Microstrategy Inc. 2.48041
6 APPS Digital Turbine Inc 2.44909
7 AMRS Amyris Inc 2.44145
8 COIN Coinbase Global Inc 2.43306
9 U Unity Software Inc 2.42457
10 TNA Direxion Dialy Small Cap Bull 3X Shares 2.37913
11 W Wayfair Inc 2.37897
12 ASAN Asana Inc 2.31935
13 CDLX Cardlytics Inc 2.28955
14 RIOT Riot Platforms Inc 2.27142
15 PACB Pacific Biosciences of California Inc 2.27091
16 UPST Upstart Holdings Inc 2.27077
17 NET Cloudflare Inc 2.23255
18 SQ Block Inc 2.21727
19 CFLT Confluent Inc 2.21541
20 CLSK Cleanspark Inc 2.18959
21 HCP HashiCorp Inc 2.17232
22 ACCD Accolade Inc 2.16595
23 TSP TuSimple Holdings Inc 2.16427
24 TGTX TG Therapeutics Inc 2.13160
25 FUBO fuboTV Inc. /FL 2.10631
26 MGNI Magnite Inc 2.09617
27 BNGO Bionano Genomics Inc 2.08915
28 SPT Sprout Social Inc 2.08600
29 GTLB Gitlab Inc 2.08147
30 SI Silvergate Capital Corp 2.05501
31 OCGN Ocugen Inc 2.04513
32 BILL Bill.com Holdings Inc 2.04463
33 RDFN Redfin Corp 2.03932
34 SITM SiTime Corp 2.03448
35 BKKT Bakkt Holdings Inc 2.02889
36 GLBE Global E Online Ltd 1.99848
37 IBRX ImmunityBio Inc 1.97833
38 DNA Ginkgo Bioworks Holdings Inc 1.97562
39 VLD Velo3D Inc 1.97489
40 FSLY Fastly Inc 1.97339
41 TTD Trade Desk Inc 1.95501
42 COMP Compass Inc 1.95370
43 QS QuantumScape Corp 1.95096
44 YELL Yellow Corporation 1.95032
45 SFIX Stitch Fix Inc 1.94944
46 ADPT Adaptive Biotechnologies Corp 1.94594
47 MNDY Monday.Com Ltd 1.94526
48 SANA Sana Biotechnology Inc 1.94344
49 FVRR Fiverr International Ltd 1.94276
50 Lowest BETA stocks (but still > 0.01):
1 SHY iShares 1-3 Year Treasury Bond ETF 0.01933
2 GEN Gen Digital Inc 0.03644
3 TFIN Triumph Financial Inc 0.04784
4 TLT iShares 20+ Year Treasury Bond ETF 0.05188
5 USO United States Oil Fund 0.07408
6 AAAU Goldman Sachs Physical Gold ETF 0.07438
7 SPRY ARS Pharmaceuticals Inc 0.07703
8 K Kellogg Co 0.08579
9 FBIN Fortune Brands Innovations Inc 0.08753
10 BCLI Brainstorm Cell Therapeutics Inc. 0.09672
11 ELV Elevance Health Inc 0.09869
12 LFCR Lifecore Biomedical Inc 0.10178
13 CPB Campbell Soup Co. 0.10772
14 PNM PNM Resources Inc 0.11679
15 SJM J.M. Smucker Co. 0.12035
16 VVX V2X Inc 0.12439
17 GIS General Mills Inc. 0.12988
18 ELME Elme Communities 0.13579
19 KHC Kraft Heinz Co 0.13602
20 HRL Hormel Foods Corp. 0.13876
21 LMT Lockheed Martin Corp. 0.14891
22 TNP Tsakos Energy Navigation Limited 0.15942
23 BMY Bristol-Myers Squibb Co. 0.16022
24 MRK Merck & Co Inc 0.16184
25 PXS Pyxis Tankers Inc 0.16215
26 CALM Cal-Maine Foods Inc. 0.16634
27 HSY Hershey Company 0.16844
28 NOC Northrop Grumman Corp. 0.17394
29 JNJ Johnson & Johnson 0.17738
30 UTL Unitil Corp. 0.17869
31 MO Altria Group Inc. 0.18047
32 INSW International Seaways Inc 0.18655
33 CAG Conagra Brands Inc 0.18947
34 ABBV Abbvie Inc 0.19052
35 NWE Northwestern Corp. 0.19326
36 MGI Moneygram International Inc. 0.19808
37 EQC Equity Commonwealth 0.19832
38 KR Kroger Co. 0.20081
39 ATVI Activision Blizzard Inc 0.20333
40 OGS ONE Gas Inc 0.20952
41 FLO Flowers Foods Inc. 0.20980
42 UTHR United Therapeutics Corp 0.21034
43 MCK Mckesson Corporation 0.21147
44 SAFT Safety Insurance Group Inc. 0.21182
45 SPOK Spok Holdings Inc 0.21355
46 LHX L3Harris Technologies Inc 0.21367
47 AMGN AMGEN Inc. 0.21509
48 EIG Employers Holdings Inc 0.21602
49 FHN First Horizon Corporation 0.21647
2 GEN Gen Digital Inc 0.03644
3 TFIN Triumph Financial Inc 0.04784
4 TLT iShares 20+ Year Treasury Bond ETF 0.05188
5 USO United States Oil Fund 0.07408
6 AAAU Goldman Sachs Physical Gold ETF 0.07438
7 SPRY ARS Pharmaceuticals Inc 0.07703
8 K Kellogg Co 0.08579
9 FBIN Fortune Brands Innovations Inc 0.08753
10 BCLI Brainstorm Cell Therapeutics Inc. 0.09672
11 ELV Elevance Health Inc 0.09869
12 LFCR Lifecore Biomedical Inc 0.10178
13 CPB Campbell Soup Co. 0.10772
14 PNM PNM Resources Inc 0.11679
15 SJM J.M. Smucker Co. 0.12035
16 VVX V2X Inc 0.12439
17 GIS General Mills Inc. 0.12988
18 ELME Elme Communities 0.13579
19 KHC Kraft Heinz Co 0.13602
20 HRL Hormel Foods Corp. 0.13876
21 LMT Lockheed Martin Corp. 0.14891
22 TNP Tsakos Energy Navigation Limited 0.15942
23 BMY Bristol-Myers Squibb Co. 0.16022
24 MRK Merck & Co Inc 0.16184
25 PXS Pyxis Tankers Inc 0.16215
26 CALM Cal-Maine Foods Inc. 0.16634
27 HSY Hershey Company 0.16844
28 NOC Northrop Grumman Corp. 0.17394
29 JNJ Johnson & Johnson 0.17738
30 UTL Unitil Corp. 0.17869
31 MO Altria Group Inc. 0.18047
32 INSW International Seaways Inc 0.18655
33 CAG Conagra Brands Inc 0.18947
34 ABBV Abbvie Inc 0.19052
35 NWE Northwestern Corp. 0.19326
36 MGI Moneygram International Inc. 0.19808
37 EQC Equity Commonwealth 0.19832
38 KR Kroger Co. 0.20081
39 ATVI Activision Blizzard Inc 0.20333
40 OGS ONE Gas Inc 0.20952
41 FLO Flowers Foods Inc. 0.20980
42 UTHR United Therapeutics Corp 0.21034
43 MCK Mckesson Corporation 0.21147
44 SAFT Safety Insurance Group Inc. 0.21182
45 SPOK Spok Holdings Inc 0.21355
46 LHX L3Harris Technologies Inc 0.21367
47 AMGN AMGEN Inc. 0.21509
48 EIG Employers Holdings Inc 0.21602
49 FHN First Horizon Corporation 0.21647
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 Pfizer $PFE.
Others are moving by their own force (e.g., R&D, or politically driven), like Pfizer $PFE.