Record 121 S&P 500 Stocks Now Move Opposite to the Index

A record 121 S&P 500 stocks — about one in five — moved inversely to the index over six months, Evercore ISI reported August 17. "Negative beta" means a stock's returns correlate negatively with the broader market. The index hit 25 all-time highs through August 4, making the divergence beneath the surface especially stark.