High BETA stocks & Low BETA stocks
through August 12, 2022

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.

Positive Net Income & Positive Cash Flow from Operations

​BETA >= 2.50:
     1 SI      Silvergate Capital Corp                        3.284
    2 UPST    Upstart Holdings Inc                           3.068
    3 COIN    Coinbase Global Inc                            3.045
    4 APPS    Digital Turbine Inc                            2.681
    5 TTD     Trade Desk Inc                                 2.655
    6 SITM    SiTime Corp                                    2.607
    7 VLTA    Volta Inc                                      2.595
    8 MELI    MercadoLibre Inc                               2.564
    9 TASK    TaskUs Inc                                     2.507
   10 LEU     Centrus Energy Corp                            2.501
  ​
​

BETA >= 0.20:
  Here are the 100 stocks with the smallest positive BETA values
    0 BRG     Bluerock Residential Growth REIT Inc           0.031
    1 ELV     Elevance Health Inc                            0.037
    2 TENX    Tenax Therapeutics Inc                         0.043
    3 VVX     V2X Inc                                        0.047
    4 K       Kellogg Co                                     0.048
    5 NEM     Newmont Corp                                   0.066
    6 WVVI    Willamette Valley Vineyard Inc.                0.122
    7 MANT    Mantech International Corp                     0.138
    8 RCM     R1 RCM Inc.                                    0.145
    9 KTCC    Key Tronic Corp.                               0.146
   10 ATLO    Ames National Corp.                            0.148
   11 SDPI    Superior Drilling Products Inc                 0.155
   12 UTL     Unitil Corp.                                   0.156
   13 HRL     Hormel Foods Corp.                             0.156
   14 NIC     Nicolet Bankshares Inc.                        0.156
   15 RITM    Rithm Capital Corporation                      0.165
   16 RMCF    Rocky Mountain Chocolate Factory Inc           0.166
   17 PNM     PNM Resources Inc                              0.171
   18 GCP     GCP Applied Technologies Inc                   0.182
   19 KMB     Kimberly-Clark Corp.                           0.184
   20 BIOX    Bioceres Crop Solutions Corp                   0.199
   21 EVBN    Evans Bancorp Inc                              0.200

Negative Net Income
​

BETA >= 2.50:
1 AFRM Affirm Holdings Inc 3.65
2 MARA MARATHON DIGITAL HOLDINGS  INC. 3.47
3 MSTR Microstrategy Inc. 3.31
4 AMRS Amyris Inc 3.26
5 FTCH Farfetch Ltd 3.22
6 NVTA Invitae Corp 3.12
7 PRTY Party City Holdco Inc 3.12
8 ACCD Accolade Inc 3.10
9 REAL Therealreal Inc 3.08
10 RIOT Riot Blockchain Inc 3.08
11 BTBT Bit Digital Inc 3.00
12 CVNA Carvana Co. 3.00
13 CFLT Confluent Inc 2.95
14 ASAN Asana Inc 2.93
15 CLSK Cleanspark Inc 2.90
16 EOSE Eos Energy Enterprises Inc 2.88
17 BKKT Bakkt Holdings Inc 2.82
18 SQ Block Inc 2.79
19 NET Cloudflare Inc 2.78
20 ANY Sphere 3D Corp 2.76
21 U Unity Software Inc 2.75
22 SKLZ Skillz Inc 2.73
23 BILL Bill.com Holdings Inc 2.72
24 SPT Sprout Social Inc 2.71
25 OPEN Opendoor Technologies Inc 2.70
26 DOCN DigitalOcean Holdings Inc 2.68
27 DNMR Danimer Scientific Inc 2.63
28 SEER Seer Inc 2.63
29 IONQ IonQ Inc 2.63
30 FUBO fuboTV Inc. /FL 2.62
31 GLBE Global E Online Ltd 2.59
32 AEHR Aehr Test Systems 2.59
33 MNDY Monday.Com Ltd 2.58
34 BNGO Bionano Genomics Inc 2.58
35 ARCT Arcturus Therapeutics Holdings Inc 2.58
36 MDB MongoDB Inc 2.57
37 PACB Pacific Biosciences of California Inc 2.57
38 W Wayfair Inc 2.55
39 VRM Vroom Inc. 2.55
40 OCGN Ocugen Inc 2.54
41 TSP TuSimple Holdings Inc 2.54
42 PRCH Porch Group Inc 2.52
43 REV Revlon  Inc. 2.52​

BETA >= 0.20:
0 PLUR Pluri Inc 0.00
1 NAVB Navidea Biopharmaceuticals Inc 0.09
2 SRLP Sprague Resources LP 0.11
3 BBAI BigBear.ai Holdings Inc 0.13
4 PZG Paramount Gold Nevada Corp 0.14
5 VS Versus Systems Inc 0.14
6 PXS Pyxis Tankers Inc 0.16
7 BLUE Bluebird bio Inc 0.20

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.