What are the current list of negative BETA U.S. Stocks?

We list below all common stocks with negative BETA values for the past year vs. the S&P 500 Equity Index ETF $SPY. This is based on the adjusted closing price for the last 253 trading days. We analyzed 4,932 stocks with our initial data validation criteria, and these 16 stocks failed the ‘valid BETA value’ test. They are unique in that they have a negative BETA value. These stocks are anomalies.

There were only five Negative BETA U.S. common stocks in mid-November 2023. It looks like the market is seeing more abnormal behavior.

​As 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 have read some of their ideas.

We include SPY in our model run, but have eliminated all other ETFs to reduce distortion.

Here are the stocks with BETA values outside the data validation range (as of January 28, 2024 market close).

ABAT -0.602 American Battery Technology Company
APCX -0.866 AppTech Payments Corp
APLT -0.028 Applied Therapeutics Inc
COEP -0.208 Coeptis Therapeutics Holdings Inc
COR -0.050 Cencora Inc.
FCN -0.018 FTI Consulting Inc…