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.

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).

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.

Video explaining negative BETA stocks

What common stock BETA is and what it means