List of Negative Beta U.S. Common Stocks: July 12, 2024
We list below all common stocks with negative BETA values for the past year vs. the S&P 500 Equity Index ETF $SPY through June 28, 2024. We added in some exchange traded funds (ETF) to capture some commodity, currency, volatility and international equity asset classes. This is based on the adjusted closing price for the last 253 trading days. These stocks are unique in that they have a negative BETA value. These stocks are anomalies, most stocks have a positive BETA.
There are very few stocks with a negative beta value. In the past three years since we have been tracking them, they make up from 1.5% to 5% of all data validated stocks. Today, we see more of them, and we include select ETFs.
They say "A rising tide lifts all boats." We expect all stocks to move with the market over time, just to a greater and lesser extent based on relative investor interest, valuations and historical BETA values. When a stock moves opposite to the overall market, it means there are strong forces at work on those individual stocks.
Some believe that this non-normal behavior provides a hedge against market movements.
We used to include a broad sample of ETFs on commodities, currencies, and financial instruments which identified more negative BETA securities, but we recently removed them to reduce distortion of our Chicago Quantum Net Score model.
There are very few stocks with a negative beta value. In the past three years since we have been tracking them, they make up from 1.5% to 5% of all data validated stocks. Today, we see more of them, and we include select ETFs.
They say "A rising tide lifts all boats." We expect all stocks to move with the market over time, just to a greater and lesser extent based on relative investor interest, valuations and historical BETA values. When a stock moves opposite to the overall market, it means there are strong forces at work on those individual stocks.
Some believe that this non-normal behavior provides a hedge against market movements.
We used to include a broad sample of ETFs on commodities, currencies, and financial instruments which identified more negative BETA securities, but we recently removed them to reduce distortion of our Chicago Quantum Net Score model.
Negative BETA stocks are rare and indicate a stock trading anomaly. Here are the stocks with BETA values outside the data validation range. This means they cannot be chosen as the best, or worst, stocks to buy based on risk-return. They fall out of the analysis element set before portfolios are searched and scored.
Here are the stocks with BETA values outside the data validation range.
AUMN -0.139 Golden Minerals Co
AVTE -0.015 Aerovate Therapeutics Inc
CBOE -0.059 Cboe Global Markets Inc.
CDXC -0.076 Chromadex Corp
CLMT -0.226 Calumet Specialty Products Partners L.P.
COR -0.053 Cencora Inc.
CPB -0.070 Campbell Soup Co.
CYBN -0.275 Cybin Inc
DPRO -0.304 Draganfly Inc
FEMY -1.156 Femasys Inc
FOXO -0.135 FOXO Technologies Inc
GERN -0.391 Geron Corp.
GIS -0.053 General Mills Inc.
GL -0.041 Globe Life Inc
GLYC -0.248 GlycoMimetics Inc
GRRR -0.347 Gorilla Technology Group Inc
HUBC -0.337 Hub Cyber Security Ltd
HUSA -0.505 Houston American Energy Corp
IDAI -0.520 T Stamp Inc
INDO -0.543 Indonesia Energy Corp Ltd
LQDA -0.099 Liquidia Corp
LYRA -0.931 Lyra Therapeutics Inc
MCK -0.021 Mckesson Corporation
OTLK -0.101 Outlook Therapeutics Inc
PGR -0.121 Progressive Corp.
PSQH -0.411 PSQ Holdings Inc
RCAT -0.609 Red Cat Holdings Inc
SPCB -0.012 SuperCom Ltd
SQQQ -3.939 ProShares UltraPro Short QQQ -3x Shares
TPET -1.105 Trio Petroleum Corp.
TZA -3.662 Direxion Daily Small Cap Bear 3X Shares
UUP -0.235 Invesco DB US Dollar Index Bullish Fund
UVXY -4.515 ProShares Ultra VIX Short-Term Futures ETF 2x Shares
VIXY -3.076 ProShares VIX Short-Term Futures ETF
VNRX -0.205 VolitionRX Ltd
VXX -3.046 Barclays Bank PLC
Here are the stocks with BETA values outside the data validation range.
AUMN -0.139 Golden Minerals Co
AVTE -0.015 Aerovate Therapeutics Inc
CBOE -0.059 Cboe Global Markets Inc.
CDXC -0.076 Chromadex Corp
CLMT -0.226 Calumet Specialty Products Partners L.P.
COR -0.053 Cencora Inc.
CPB -0.070 Campbell Soup Co.
CYBN -0.275 Cybin Inc
DPRO -0.304 Draganfly Inc
FEMY -1.156 Femasys Inc
FOXO -0.135 FOXO Technologies Inc
GERN -0.391 Geron Corp.
GIS -0.053 General Mills Inc.
GL -0.041 Globe Life Inc
GLYC -0.248 GlycoMimetics Inc
GRRR -0.347 Gorilla Technology Group Inc
HUBC -0.337 Hub Cyber Security Ltd
HUSA -0.505 Houston American Energy Corp
IDAI -0.520 T Stamp Inc
INDO -0.543 Indonesia Energy Corp Ltd
LQDA -0.099 Liquidia Corp
LYRA -0.931 Lyra Therapeutics Inc
MCK -0.021 Mckesson Corporation
OTLK -0.101 Outlook Therapeutics Inc
PGR -0.121 Progressive Corp.
PSQH -0.411 PSQ Holdings Inc
RCAT -0.609 Red Cat Holdings Inc
SPCB -0.012 SuperCom Ltd
SQQQ -3.939 ProShares UltraPro Short QQQ -3x Shares
TPET -1.105 Trio Petroleum Corp.
TZA -3.662 Direxion Daily Small Cap Bear 3X Shares
UUP -0.235 Invesco DB US Dollar Index Bullish Fund
UVXY -4.515 ProShares Ultra VIX Short-Term Futures ETF 2x Shares
VIXY -3.076 ProShares VIX Short-Term Futures ETF
VNRX -0.205 VolitionRX Ltd
VXX -3.046 Barclays Bank PLC
What stock BETA means in the stock market
- Describe stock beta
- Describe negative stock beta, how it happens and what it means.
- Provide a list of currently negative BETA stocks (it changes frequently).
- Provide negative beta stock examples.
We measure this movement over a year, against the S&P 500 Index ETF, or SPY.
A stock with a negative BETA moved in the opposite direction of the market. It implies an inverse relationship between that stock and the market over the past year. It has zigged, when the market has zagged. It rose when the market fell. This is an anomaly, as most stocks move with the market, hence the expression: "a rising tide lifts all boats."
A beta of one implies a stock generally moved with the market. The large equity index, the S&P 500, moves with the market with a beta of one. Surprisingly, Real Estate moves with the market, as well as Bitcoin.
A beta between zero and one means a stock moved less quickly, but still with the market. A common example are consumer packaged goods that sell products found in grocery stores.
A beta greater than one means a stock moved more aggressively, but aligned with the market. It is proportional, so a beta of 2 implies it moves twice as much as the market. We see beta values up to 3.50 in our model. Many of the highest beta stocks are growth stocks and new economy stocks.