Closelook rankings · Up & Down Beta
Stocks whose market relationship is breaking loose
The stocks whose beta to the market has moved furthest and fastest away from its own history — the least stable market relationships in our coverage right now.
This list ranks by beta instability: how far a stock’s current beta has moved away from its own history, and how fast. A high number does not say up or down — it says the old relationship with the market is not holding, which is when position sizing built on that old relationship stops being reliable.
Engine run of 2026-08-17 · 2700 stocks measured against the S&P 500 · top 50 shown — the Market Structure lab holds the full toolbox behind this ranking.
| # | Stock | Instability | Up-beta | Down-beta | Instability | State | Market |
|---|---|---|---|---|---|---|---|
| 1 | 003670.KS Posco Chemical Co Ltd | 100 | 1.43 | 0.82 | 100 | decoupling | South Korea |
| 2 | 006400.KS Samsung SDI | 100 | 0.76 | 1.60 | 100 | fragile | South Korea |
| 3 | 036930.KQ 036930.KQ | 100 | 1.00 | 4.40 | 100 | fragile | South Korea |
| 4 | 047810.KS Korea Aerospace Industries | 100 | 0.80 | 0.70 | 100 | decoupling | South Korea |
| 5 | 051910.KS LG Chemicals | 100 | 0.48 | 1.01 | 100 | fragile | South Korea |
| 6 | 086520.KQ 086520.KQ | 100 | 1.83 | 1.31 | 100 | decoupling | South Korea |
| 7 | 1623.TSE NEXT FUNDS TOPIX-17 STEEL & NONFERROUS ETF | 100 | 0.50 | 2.41 | 100 | fragile | Japan |
| 8 | 2059.TW King Slide Works Co Ltd | 100 | 0.12 | 2.56 | 100 | fragile | Taiwan |
| 9 | 2301.TW Lite-On Technology Corp | 100 | 1.49 | 2.89 | 100 | fragile | Taiwan |
| 10 | 2313.TW Compeq Manufacturing Co Ltd | 100 | -1.14 | 1.22 | 100 | fragile | Taiwan |
| 11 | 2327.TW Yageo Corp | 100 | -0.14 | 1.89 | 100 | fragile | Taiwan |
| 12 | 2344.TW Winbond Electronics Corp | 100 | -0.05 | 4.58 | 100 | fragile | Taiwan |
| 13 | 2345.TW Accton Technology Corp | 100 | 0.14 | 1.75 | 100 | fragile | Taiwan |
| 14 | 2359.HK WuXi AppTec Co Ltd H | 100 | 0.73 | 0.10 | 100 | decoupling | China |
| 15 | 2401.TW Sunplus Technology Co Ltd | 100 | 1.68 | 2.17 | 100 | fragile | Taiwan |
| 16 | 2408.TW Nanya Technology Corp | 100 | -1.23 | 5.48 | 100 | fragile | Taiwan |
| 17 | 2449.TW King Yuan Electronics Co Ltd | 100 | 0.66 | 2.26 | 100 | fragile | Taiwan |
| 18 | 2492.TW Walsin Technology Corp | 100 | 0.16 | 2.49 | 100 | fragile | Taiwan |
| 19 | 272210.KS Hanwha Systems Co Ltd | 100 | 0.11 | 0.35 | 100 | fragile | South Korea |
| 20 | 3017.TW Asia Vital Components Co Ltd | 100 | -0.04 | 1.63 | 100 | fragile | Taiwan |
| 21 | 3037.TW Unimicron Technology Corp | 100 | -0.99 | 2.69 | 100 | fragile | Substrates & Interposers |
| 22 | 3189.TW Kinsus Interconnect Technology Corp | 100 | -0.72 | 2.06 | 100 | fragile | Taiwan |
| 23 | 3436.T Sumco | 100 | 0.62 | 3.42 | 100 | fragile | Advanced Materials |
| 24 | 3481.TW Innolux Corp | 100 | 0.81 | 2.83 | 100 | fragile | Taiwan |
| 25 | 348340.KQ 348340.KQ | 100 | 2.38 | 1.24 | 100 | decoupling | South Korea |
| 26 | 3529.TWO eMemory Technology | 100 | 0.67 | 1.61 | 100 | fragile | Taiwan |
| 27 | 3635.T KOEI TECMO HOLDINGS CO.,LTD. | 100 | -0.09 | -0.11 | 100 | decoupling | Japan |
| 28 | 3653.TW Jentech Precision Industrial Co Ltd | 100 | -0.42 | -0.09 | 100 | fragile | Taiwan |
| 29 | 3711.TW ASE Industrial Holding Co Ltd | 100 | 0.89 | 2.84 | 100 | fragile | Taiwan |
| 30 | 3714.TW Ennostar Inc | 100 | 0.67 | 0.33 | 100 | decoupling | Taiwan |
| 31 | 4004.T Resonac | 100 | 0.93 | 1.70 | 100 | fragile | Advanced Materials |
| 32 | 402340.KS SK Square Co Ltd | 100 | -0.38 | 2.58 | 100 | fragile | South Korea |
| 33 | 4062.T Ibiden | 100 | 1.07 | 3.56 | 100 | fragile | Substrates & Interposers |
| 34 | 4919.TW Nuvoton Technology Corp | 100 | 1.10 | 1.91 | 100 | fragile | Taiwan |
| 35 | 5801.T Furukawa Electric | 100 | 1.15 | 3.94 | 100 | fragile | High-Speed Interconnects |
| 36 | 6146.T DISCO Corp | 100 | 0.93 | 1.49 | 100 | fragile | Wafer Processing & Precision |
| 37 | 6147.TWO Chipbond Technology | 100 | 0.48 | 2.18 | 100 | fragile | Taiwan |
| 38 | 6285.TW Wistron NeWeb Corp | 100 | -0.15 | 1.89 | 100 | fragile | Taiwan |
| 39 | 6323.T RORZE CORPORATION | 100 | 0.99 | 2.41 | 100 | fragile | Japan |
| 40 | 6361.T Ebara | 100 | 1.26 | 0.62 | 100 | decoupling | Wafer Processing & Precision |
| 41 | 6525.T Kokusai Electric | 100 | 1.77 | 2.64 | 100 | fragile | Deposition, Etch & Process |
| 42 | 6723.T Renesas Electronics | 100 | 1.88 | 2.46 | 100 | fragile | Power Semiconductors |
| 43 | 6728.T ULVAC, Inc. | 100 | 0.73 | 0.91 | 100 | fragile | Japan |
| 44 | 6752.T Panasonic Holdings Corporation | 100 | 0.23 | 1.11 | 100 | fragile | Japan |
| 45 | 6770.TW Powerchip Semiconductor Manufacturing Corp. | 100 | 0.31 | 4.19 | 100 | fragile | Taiwan |
| 46 | 6841.T YOKOGAWA ELECTRIC CORPORATION | 100 | 0.49 | 0.61 | 100 | fragile | Japan |
| 47 | 6856.T Horiba | 100 | 1.05 | 1.31 | 100 | fragile | Fab Subsystems & Process Infra |
| 48 | 6963.T ROHM COMPANY LIMITED | 100 | 0.70 | 1.49 | 100 | fragile | Japan |
| 49 | 6981.T Murata Manufacturing | 100 | 0.45 | 2.50 | 100 | fragile | Advanced Materials |
| 50 | 7729.T TOKYO SEIMITSU CO.,LTD. | 100 | 1.36 | 2.14 | 100 | fragile | Japan |
Up-beta / down-beta: how much the stock moves on the market’s up days and down days, over the last 126 trading days. Beta gap = up-beta minus down-beta. Instability = how far the current beta has drifted from its own history (0–100).
Go deeper
- Click any stock for its full page — chart, performance, signals and the Closelook read in one place.
- The Market Structure lab shows the same engine as a market-wide dashboard — states, breadth and cross-asset context.
- The Directional Flow ranking grades trend quality; this family grades market relationship. A name strong on both is a different animal than a name strong on one.
- Factor Regime shows which of these profiles the market is currently paying for.
FAQ
What are up-beta and down-beta?
Beta measures how much a stock moves when the market moves. We split it in two: up-beta is measured only on the market’s up days, down-beta only on its down days. A stock with up-beta 1.4 and down-beta 0.8 rises more with rallies than it falls in sell-offs — the two numbers rarely match, and the gap between them is the interesting part.
What does the state column mean?
Our engine sorts every stock into one of five states: healthy leader (strong upside participation, positive beta gap), neutral, fragile (negative gap with elevated downside beta), distribution (fading upside with beta-adjusted underperformance) and decoupling (the relationship with the market itself is breaking down).
How often is this ranking updated?
The engine runs after every US market close across our full coverage, measured against the S&P 500. This page is rebuilt every morning and always shows the date of the run it was built from.
Is this investment advice?
No. Closelook publishes an investment research diary, not investment advice. The ranking describes what our engine measures in past prices. Past performance may not be an indication of future performance.
Closelook publishes an investment research diary, not investment advice. Past performance may not be an indication of future performance.