Pavlo Kot

S&P 500 members with negative beta reached 43% in September 2026, Yuriy Matso notes

S&P 500 members with negative beta reached 43% in September 2026, Yuriy Matso notes
S&P 500 negative beta peaked in 2026

Yuriy Matso highlights a significant shift in the S&P 500, noting that the share of index members whose beta to SPY is below zero rose to 43% by the end of September 2026.

This marks a sharp increase from previous highs of 17.3% in August 2024, 14% in January 2020, and 10.7% at a prior point. A beta below zero indicates these companies tend to move in the opposite direction to SPY.

Matso has recently tracked other major market developments. He reported that the diesel crack spread climbed to $113 a barrel, citing potential cost pressures for transportation and agriculture. In a separate update, he observed a Fed rate hike following a $130 jump in Brent, with real yields reaching their highest level since 2008.

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