Negative Beta Stocks (Market Close: May 15, 2023)
Which stocks have a negative BETA? What is a negative BETA stock?
A stock with a negative BETA (BETA < 0) implies an inverse relationship between the stock and the stock market. This is highly unlikely for the common stock of profitable companies and likely only lasts for a short time. Negative BETA stocks are an anomaly. That's why they say: "A Rising Tide Lifts All Boats."
When we find a persistently negative BETA stock, it deserves close analysis before investing. It is not a 'perfect hedge.' Between last week and today's data, three stocks changed. This means that negative BETA conditions are persisting.
A stock with a negative BETA (BETA < 0) implies an inverse relationship between the stock and the stock market. This is highly unlikely for the common stock of profitable companies and likely only lasts for a short time. Negative BETA stocks are an anomaly. That's why they say: "A Rising Tide Lifts All Boats."
When we find a persistently negative BETA stock, it deserves close analysis before investing. It is not a 'perfect hedge.' Between last week and today's data, three stocks changed. This means that negative BETA conditions are persisting.
This week we see many more stocks with a negative BETA.
List of stocks with negative BETA
We list below all common stocks with negative BETA values that we recently found. We occasionally include a few exchange traded funds (ETFs). There are usually very few negative BETA common stocks.
Here are the stocks and ETFs with BETA values outside the data validation range.
AGLE -0.115 Aeglea BioTherapeutics Inc
AKRO -0.194 Akero Therapeutics Inc
CDTX -0.487 Cidara Therapeutics Inc
COMS -0.087 COMSovereign Holding Corp.
CPK -0.754 Chesapeake Utilities Corp
CR -0.018 Crane Co
HTGM -1.135 HTG Molecular Diagnostics Inc
MFH -0.481 Mercurity Fintech Holding Inc
PSTV -0.051 Plus Therapeutics Inc
RLMD -0.058 Relmada Therapeutics Inc
SMMT -0.172 Summit Therapeutics Inc
SPHR -0.016 Sphere Entertainment Co
SQQQ -3.715 ProShares UltraPro Short QQQ -3x Shares
TZA -3.299 Direxion Daily Small Cap Bear 3X Shares
UHAL -1.646 U-Haul Holding Company
UUP -0.225 Invesco DB US Dollar Index Bullish Fund
UVXY -2.744 ProShares Ultra VIX Short-Term Futures ETF 2x Shares
VERU -0.399 Veru Inc
VIXY -1.864 ProShares VIX Short-Term Futures ETF
WNW -0.068 Meiwu Technology Company Ltd
(over the past year vs. $SPY, or the S&P 500 Index ETF).
AGLE -0.115 Aeglea BioTherapeutics Inc
AKRO -0.194 Akero Therapeutics Inc
CDTX -0.487 Cidara Therapeutics Inc
COMS -0.087 COMSovereign Holding Corp.
CPK -0.754 Chesapeake Utilities Corp
CR -0.018 Crane Co
HTGM -1.135 HTG Molecular Diagnostics Inc
MFH -0.481 Mercurity Fintech Holding Inc
PSTV -0.051 Plus Therapeutics Inc
RLMD -0.058 Relmada Therapeutics Inc
SMMT -0.172 Summit Therapeutics Inc
SPHR -0.016 Sphere Entertainment Co
SQQQ -3.715 ProShares UltraPro Short QQQ -3x Shares
TZA -3.299 Direxion Daily Small Cap Bear 3X Shares
UHAL -1.646 U-Haul Holding Company
UUP -0.225 Invesco DB US Dollar Index Bullish Fund
UVXY -2.744 ProShares Ultra VIX Short-Term Futures ETF 2x Shares
VERU -0.399 Veru Inc
VIXY -1.864 ProShares VIX Short-Term Futures ETF
WNW -0.068 Meiwu Technology Company Ltd
(over the past year vs. $SPY, or the S&P 500 Index ETF).
What stock BETA means in the stock market
BETA is the degree that a stock moves with the stock market. BETA is the degree of correlation, and the systematic risk of a stock. BETA is calculated by the covariance of a stock (x) with an index (y) divided by the variance of the index: covariance x,y / variance y.