Beta measures a stock's volatility relative to the broader market. A beta of 1.0 moves in line with the market; above 1.0 amplifies market moves in both directions, below 1.0 dampens them.
The formula
Covariance (Stock, Market)Variance (Market)
= Beta
Why it matters
- —High-beta stocks fall harder in downturns but can rally harder in rallies — it's a risk dial, not a quality signal.
- —Used in portfolio construction to balance overall volatility exposure.
- —Backward-looking — past beta doesn't guarantee future volatility, especially after a major business change.
How to read it
| < 0.8 | Lower volatility than the market |
| 0.8–1.2 | Moves roughly with the market |
| > 1.2 | More volatile than the market |
Highest beta (most volatile) in our coverage
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