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If you think that market volatility will calm down in the near future and that uncertainty and fear will subside, here is a list you may be interested in.

We used the VIX index, or “fear gauge,” which measures the implied volatility of S&P 500 index options, to find a list of stocks negatively correlated to volatility. Screening among stocks that are reporting their Q3 earnings next week, we found 15 stocks with deeply negative correlations to market volatility over the last three months.

Historically, these stocks have tended to perform well when volatility and uncertainty subside. But it’s important to remember that past performance is no guarantee of future returns.

Interactive Chart: Press Play to compare changes in analyst ratings over the last two years for the top six stocks mentioned below. Analyst ratings sourced from Zacks Investment Research.‬

We also created a price-weighted index of the stocks mentioned below, and monitored the performance of the list relative to the S&P 500 index over the last month. To access a complete analysis of this list's recent performance, click here.



Do you think volatility will soon subside? Use this list as a starting-off point for your own analysis.

List sorted by correlation to VIX.

1. Webster Financial Corp. (NYSE:WBS): Operates as the holding company for the Webster Bank that provides various banking and financial products and services in southern New England and eastern New York State. Market cap of $1.28B. Earnings to be announced on 10/14. Correlation to the VIX index at -0.96. The stock is a short squeeze candidate, with a short float at 7.22% (equivalent to 9.34 days of average volume). It's been a rough couple of days for the stock, losing 8.06% over the last week.

2. Fairchild Semiconductor International Inc. (NASDAQ:FCS):
Designs, develops, manufactures, and sells power analog, power discrete, and non-power semiconductor solutions worldwide. Market cap of $1.33B. Earnings to be announced on 10/13. Correlation to the VIX index at -0.96. This is a risky stock that is significantly more volatile than the overall market (beta = 2.45). Might be undervalued at current levels, with a PEG ratio at 0.64, and P/FCF ratio at 9.26. It's been a rough couple of days for the stock, losing 12.01% over the last week.

3. Alcoa, Inc. (NYSE:AA):
Engages in the production and management of aluminum, fabricated aluminum, and alumina. Market cap of $9.47B. Earnings to be announced on 10/11. Correlation to the VIX index at -0.96. This is a risky stock that is significantly more volatile than the overall market (beta = 2.13). The stock is currently stuck in a downtrend, trading 21.19% below its SMA20, 28.3% below its SMA50, and 43.23% below its SMA200. It's been a rough couple of days for the stock, losing 14.83% over the last week.

4. Winnebago Industries Inc. (NYSE:WGO):
Manufactures motor homes, which are self-contained recreation vehicles used primarily in leisure travel and outdoor recreation activities. Market cap of $201.58M. Earnings to be announced on 10/13. Correlation to the VIX index at -0.96. This is a risky stock that is significantly more volatile than the overall market (beta = 2.43). The stock is a short squeeze candidate, with a short float at 16.86% (equivalent to 15.37 days of average volume). The stock has lost 32.75% over the last year.

5. JB Hunt Transport Services Inc. (NASDAQ:JBHT):
Operates as a surface transportation and delivery services company in North America. Market cap of $4.29B. Earnings to be announced on 10/14. Correlation to the VIX index at -0.95. The stock is currently stuck in a downtrend, trading 6% below its SMA20, 10.42% below its SMA50, and 16.79% below its SMA200. The stock has performed poorly over the last month, losing 10.7%.

6. Zep, Inc. (NYSE:ZEP):
Produces, markets, and services a range of cleaning and maintenance solutions for commercial, industrial, institutional, and consumer end-markets. Market cap of $312.93M. Earnings to be announced on 10/10. Correlation to the VIX index at -0.94. The stock is currently stuck in a downtrend, trading 6.8% below its SMA20, 12.27% below its SMA50, and 18.38% below its SMA200. The stock has performed poorly over the last month, losing 14.98%.

7. Cantel Medical Corp. (NYSE:CMN):
Provides infection prevention and control products in the healthcare market. Market cap of $349.71M. Earnings to be announced on 10/10. Correlation to the VIX index at -0.94. The stock is currently stuck in a downtrend, trading 9.27% below its SMA20, 9.82% below its SMA50, and 14.04% below its SMA200. It's been a rough couple of days for the stock, losing 9.41% over the last week.

8. Weis Markets, Inc. (NYSE:WMK):
Engages in the retail sale of food in Pennsylvania and surrounding states. Market cap of $993.42M. Earnings to be announced on 10/10. Correlation to the VIX index at -0.94. The stock is a short squeeze candidate, with a short float at 6.55% (equivalent to 17.08 days of average volume). The stock has lost 0.62% over the last year.

9. Enzo Biochem Inc. (NYSE:ENZ):
Engages in the research, development, manufacture, and marketing of diagnostic and research products based on genetic engineering, biotechnology, and molecular biology. Market cap of $89.14M. Earnings to be announced on 10/12. Correlation to the VIX index at -0.93. The stock is a short squeeze candidate, with a short float at 6.02% (equivalent to 10.98 days of average volume). It's been a rough couple of days for the stock, losing 6.1% over the last week.

10. Audiovox Corporation (NASDAQ:VOXX):
Operates as a distributor and value added service provider in the accessory, mobile, and consumer electronics industries. Market cap of $113.07M. Earnings to be announced on 10/11. Correlation to the VIX index at -0.93. The stock is currently stuck in a downtrend, trading 19.11% below its SMA20, 24.45% below its SMA50, and 35.42% below its SMA200. It's been a rough couple of days for the stock, losing 14.24% over the last week.

11. Host Hotels & Resorts Inc. (NYSE:HST):
A publicly owned real estate investment trust (REIT). Market cap of $7.18B. Earnings to be announced on 10/12. Correlation to the VIX index at -0.92. This is a risky stock that is significantly more volatile than the overall market (beta = 2.31). The stock is currently stuck in a downtrend, trading 9.19% below its SMA20, 17.04% below its SMA50, and 37.54% below its SMA200. It's been a rough couple of days for the stock, losing 8.79% over the last week.

12. ADTRAN Inc. (NASDAQ:ADTN):
Designs, manufactures, markets, and services network access solutions that enable voice, data, video, and Internet communications across wireline and wireless networks worldwide. Market cap of $1.67B. Earnings to be announced on 10/12. Correlation to the VIX index at -0.92. The stock is currently stuck in a downtrend, trading 12.87% below its SMA20, 14.31% below its SMA50, and 32.59% below its SMA200. It's been a rough couple of days for the stock, losing 11.54% over the last week.

13. Knoll Inc. (NYSE:KNL):
Engages in the design, manufacture, and sale of workplace furnishings, textiles, and fine leathers for the workplace and home. Market cap of $617.83M. Earnings to be announced on 10/10. Correlation to the VIX index at -0.92. It's been a rough couple of days for the stock, losing 9.08% over the last week.

14. Commerce Bancshares Inc. (NASDAQ:CBSH):
Operates as the bank holding company for Commerce Bank, N. Market cap of $2.93B. Earnings to be announced on 10/13. Correlation to the VIX index at -0.92. The stock is currently stuck in a downtrend, trading 5.03% below its SMA20, 8.56% below its SMA50, and 14.34% below its SMA200. It's been a rough couple of days for the stock, losing 5.44% over the last week.

15. First Horizon National Corp. (NYSE:FHN):
Operates as the holding company for First Tennessee Bank National Association, which provides various financial services in the United States and internationally. Market cap of $1.48B. Earnings to be announced on 10/10. Correlation to the VIX index at -0.91. The stock is currently stuck in a downtrend, trading 13.04% below its SMA20, 22.04% below its SMA50, and 44.76% below its SMA200. It's been a rough couple of days for the stock, losing 13.52% over the last week.

*Price data sourced from Yahoo! Finance, all other data sourced from Finviz.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Source: 15 Companies Reporting Earnings Next Week Negatively Correlated To Market Volatility