The Riskiest S&P 500 Stocks Right Now
Buyer beware: These are five of the riskiest stocks in the S&P 500 at the moment, based on one measure of volatility.
For many investors, the word that most appropriately describes 2026 is "uncertain." Variables include war in the Middle East and Ukraine, government trade policies, inflation and interest rates, stock market sentiment, and just about everything else.
In such an environment, many investors look for low-risk, low-volatility stocks. There is no one-size-fits-all approach to measuring a company's risk factors, but one helpful metric is "beta" – a calculation of historic volatility compared to the broad market.
Beta is expressed as a decimalized figure, and a reading of 1.0 means the stock or exchange-traded fund moves perfectly in line with the market.
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Your favorite S&P 500 index fund has a beta of 1.0, considering it literally invests in the benchmark itself.
A beta that is lower than 1.0 means the stock moves less than the broader market. Sleepy consumer staples stocks such as General Mills (GIS) and The Campbell's Company (CPB) tend to have the lowest betas among S&P 500 stocks.
If the stock's beta is greater than 1.0, it is typically more volatile than the broad market – meaning it's capable of tremendous gains on the good days, but epic crashes when things go south.
With that in mind, we put together a list of the most volatile S&P 500 stocks as measured by their three-year annualized beta. This doesn't mean they are doomed to fail, as some have put up nice gains lately. But it does mean they rank as the riskiest S&P stocks to buy now and investors should proceed with caution.
Data is as of May 26.
Coinbase Global
- Sector: Financials
- Market value: $47.4 billion
- Beta: 3.4
Coinbase Global (COIN) is a publicly traded crypto exchange listed on the Nasdaq and in good standing with major U.S. regulators. That makes it one of the most established and legitimate crypto platforms out there.
It has relationships with mainstream brokers and payment platforms, including Visa (V), which offers credit cards that pay rewards in crypto. So Coinbase is cozy with old-school banking and finance firms despite its innovative connections to digital assets.
At the same time, the financial stock typifies the volatility that, along with uncertainty, has defined the second Trump administration. COIN surged in the immediate aftermath of the November 2024 presidential election but plummeted alongside the broader market amid a chaotic rollout of new tariffs.
COIN rallied once again after the Senate passed the GENIUS Act – a law that aims to provide a regulatory framework for stablecoins. Shares have retreated once more in the second half of the year during a steep sell-off for the broader crypto industry.
Still, crypto's "time on the fringe" is likely ending and will be replaced "by an era of consistent regulation and expanding use-cases with the ultimate potential to supplant the traditional global financial system," says William Blair analyst Andrew Jeffrey.
Jeffrey adds that Coinbase will see an outsized impact from this shift, given its "leadership creates an inherent advantage."
Volatility and uncertainty will keep COIN on this list of riskiest S&P 500 stocks for the time being.
Palantir Technologies
- Sector: Technology
- Market value: $327.5 billion
- Beta: 1.5
Palantir Technologies (PLTR) is down more than 23% year to date. But it was one of the best-performing S&P 500 stocks in 2025.
There's good reason for that, too, given that the intelligence community and the U.S. Department of Defense are long-term partners of the data analytics and artificial intelligence (AI) platform.
And there are many reasons to expect PLTR to be much more than a flash in the pan based on an AI fad. Indeed, Wall Street is calling for 73% annual revenue growth this year and 45% growth next year. Earnings per share are expected to surge, too.
However, history shows that some growth stocks can crash as hard as they climb. So investors should be aware of the high beta and volatility risk we see in PLTR before presuming this tech stock has nowhere to go but up.
Carnival
- Sector: Consumer discretionary
- Market value: $38.8 billion
- Beta: 2.3
Cruise ship operator Carnival (CCL) developed a reputation as a stand-in for the struggling travel industry writ large during the pandemic.
That made the consumer discretionary stock a prime target for day trading as speculators looked to turn quick profits on big moves related to macro trends involving tariffs, global trade and consumer spending.
But a longer-term look at CCL stock shows that it has a history of making big moves in either direction.
Looking at the price charts across the past 10 years or so indicates that Carnival shares have traded in a wide range of roughly $7 to $70 per share.
These days, CCL trades closer to $28, though many on Wall Street are betting CCL is poised for its next leg up. Indeed, the average price target among the 21 analysts following the stock who are tracked by S&P Global Market Intelligence is $34.01 – more than 20% above current levels.
But investors should be aware that this is definitely one of the riskiest S&P 500 stocks and there's no way of knowing for sure which way the wind will blow.
Tesla
- Sector: Consumer discretionary
- Market value: $1.67 trillion
- Beta: 1.8
Most investors are familiar with the relationship between Tesla (TSLA) CEO Elon Musk and President Donald Trump.
And electric vehicles (EVs) are seen as a technology with a long-term runway, though Musk's work in Washington, D.C., disenchanted a large number of left-leaning consumers and public feuds with Trump risk alienating the other side of the aisle, too.
Tesla's share price was cut in half between December 2024 and March 2025 amid backlash to Musk's political ambitions. But TSLA rallied after Elon stepped down from his role at the Department of Government Efficiency (DOGE).
Excitement over the company's soft robotaxi launch in late June created additional tailwinds. And a late-November Tweet from the CEO about Tesla's AI chip ambitions sent the stock even higher.
Still, TSLA shares are generating interest now because the company is widely rumored to be destined for a merger with Musk's SpaceX. And the SpaceX IPO is on track to be the biggest initial public offering ever.
But buyers beware: Big price swings in either direction are why Tesla is on this list of the riskiest stocks in the S&P 500 right now.
Caesars Entertainment
- Sector: Consumer discretionary
- Market value: $5.9 billion
- Beta: 1.8
Casino icon Caesars Entertainment (CZR) operates brick-and-mortar gambling facilities, as well as online sports books, in 32 jurisdictions across North America.
Despite its domestic focus, the company has long been dependent on the gambling-friendly cultures across Asia to send along customers from abroad.
And amid rising tensions between the U.S. and its trade partners, which has negatively impacted travel from key markets such as China, CZR stock was down more than 30% in 2025.
It's been a different story so far in 2026, with the stock up more than 20% on solid digital growth and a rebound in Las Vegas.
And the company is now engaged in exclusive talks to be acquired by Fertitta Entertainment for $18 billion, or $32 per share.
Stifel analyst Steven M. Wieczynski maintains a Buy rating on the stock, though he recently lowered his 12-month target price from $36 to $35 due to uncertainty about CZR's future. "All investors care about at this point is will CZR still be a public company moving forward," Wieczynski writes, "and unfortunately, nobody still knows that answer."
Investors should remain on high alert given that CZR is one of the riskiest S&P 500 stocks right now. "Looking past the chatter that is circulating around CZR," the analyst concludes, "we continue to see real value in this name regardless of if they are taken private or remain a public entity."
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