Here are the 6 stocks that rise when Nvidia shares fall

Six stocks in the S & P 500 rise often whenever Nvidia shares fall, according to a

Pro analysis. The U.S.-listed stocks are Jack Daniel's distiller Brown-Forman , gaming company Electronic Arts , health products maker Henry Schein , software outsourcing giant Cognizant , pet care firm Zoetis , and securities exchange Cboe . Pro screened for stocks in the S & P 500 that are inversely correlated to Nvidia's over a month and year period after the stock fell into correction territory for the second time this month. Technical analysts have suggested it may be time for investors to sell Nvidia too.

Pro's analysis used the Pearson correlation coefficient, the most common way of measuring a linear correlation between two variables — or stock prices. 's calculations only measure the direction and size of daily price action. Long-term returns are not considered. Correlated returns also do not indicate causation or guarantee future returns or price action patterns. The below table highlights the 10 stocks in the S & P 500 with the strongest inverse correlation with Nvidia's share price.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

These 10 oil stocks are the most — and least — sensitive to price swings amid Iran-Israel tensionsCNBC Pro screened for stocks that are highly correlated with Brent crude oil prices.
Source: CNBC - 🏆 12. / 72 Read more »

These 4 stocks can help investors play defense as inflation rattles the marketCNBC Pro screened for S&P 500 stocks that fit the bill as defensive options.
Source: CNBC - 🏆 12. / 72 Read more »

These are the cheapest stocks in the S&P 500 at the start of the second quarterCNBC Pro screened for names that may offer value.
Source: CNBC - 🏆 12. / 72 Read more »