Stocks stumbled out of the gate in September. Use these hedges to guard against volatility, Evercore ISI says
Evercore ISI names dozens of S&P 500 stocks with negative beta to help investors ride out renewed volatility in September.
TL;DR
- Evercore ISI suggests using 'negative beta' stocks to hedge against market volatility.
- Negative beta stocks historically move opposite to the broader market.
- The firm identified 115 negative beta stocks in the S&P 500.
- Financials, utilities, consumer staples, and energy sectors dominate the list.
- Occidental Petroleum and Chevron are highlighted energy stocks with significant negative betas.
- Defensive consumer staples like Kroger and Altria were also mentioned.