Which stocks move with interest rates?
When interest rates rise, future profits are worth less today and borrowing costs climb; when they fall, the reverse. Some stocks, such as builders, utilities and property owners, live and die by rates, while banks can gain when rates rise. Knowing which is which explains a lot of a portfolio’s swings.
Updated Oct 9, 2026
41 rate-sensitive
Long Treasuries are −7% over three months, so long-term rates have been rising. 41 stocks have tended to gain when rates fall, led by DHI, BLDR, AMT; none has clearly tended to gain when rates rise.
Against the S&P 500
Select long Treasuries or any stock below. Each chart is its price against the S&P 500.
Stocks with a clear link to interest rates
Only stocks with a correlation of 0.3 or more with long bonds’ own moves, either way, ranked by sensitivity. A sensitivity of 0.3 means a 10% move in long bonds beyond the market has gone with about a 3% move in the stock. Select a column to sort.
| Stock | Link | Sensitivity | Correlation | 3M | 1Y | Sector | Past year |
|---|---|---|---|---|---|---|---|
| DHI D. R. Horton | 100Gains when rates fall | 1.09 | 0.45 | −9% | −15% | Consumer Discretionary | |
| BLDR Builders FirstSource | 100Gains when rates fall | 1.07 | 0.34 | −28% | −59% | Industrials | |
| AMT American Tower | 100Gains when rates fall | 1.02 | 0.48 | +8% | −2% | Real Estate | |
| PHM PulteGroup | 99Gains when rates fall | 1.00 | 0.44 | −9% | −12% | Consumer Discretionary | |
| SBAC SBA Communications | 99Gains when rates fall | 0.99 | 0.42 | −2% | −3% | Real Estate | |
| LEN Lennar | 99Gains when rates fall | 0.99 | 0.42 | −7% | −36% | Consumer Discretionary | |
| CCI Crown Castle | 99Gains when rates fall | 0.97 | 0.42 | 0% | −17% | Real Estate | |
| ARE Alexandria Real Estate Equities | 98Gains when rates fall | 0.93 | 0.34 | −5% | −39% | Real Estate | |
| EXR Extra Space Storage | 98Gains when rates fall | 0.78 | 0.42 | −7% | −5% | Real Estate | |
| PSA Public Storage | 98Gains when rates fall | 0.76 | 0.46 | −10% | −1% | Real Estate | |
| NVR NVR, Inc. | 97Gains when rates fall | 0.67 | 0.40 | −8% | −24% | Consumer Discretionary | |
| PLD Prologis | 97Gains when rates fall | 0.67 | 0.39 | −9% | +12% | Real Estate | |
| MAS Masco | 96Gains when rates fall | 0.65 | 0.33 | −10% | 0% | Industrials | |
| CBRE CBRE Group | 96Gains when rates fall | 0.65 | 0.33 | −5% | −14% | Real Estate | |
| LOW Lowe's | 96Gains when rates fall | 0.65 | 0.39 | −10% | −22% | Consumer Discretionary | |
| HD Home Depot (The) | 96Gains when rates fall | 0.64 | 0.42 | −14% | −24% | Consumer Discretionary | |
| KIM Kimco Realty | 95Gains when rates fall | 0.61 | 0.39 | −12% | +4% | Real Estate | |
| NEE NextEra Energy | 95Gains when rates fall | 0.60 | 0.32 | −12% | −8% | Utilities | |
| WY Weyerhaeuser | 94Gains when rates fall | 0.60 | 0.33 | −18% | −23% | Real Estate | |
| SHW Sherwin-Williams | 93Gains when rates fall | 0.59 | 0.35 | −3% | −5% | Materials | |
| EVRG Evergy | 93Gains when rates fall | 0.57 | 0.43 | −6% | +4% | Utilities | |
| AEP American Electric Power | 92Gains when rates fall | 0.55 | 0.39 | −9% | +4% | Utilities | |
| REG Regency Centers | 92Gains when rates fall | 0.54 | 0.42 | −10% | +1% | Real Estate | |
| DUK Duke Energy | 91Gains when rates fall | 0.53 | 0.46 | −8% | −7% | Utilities | |
| EQIX Equinix | 91Gains when rates fall | 0.53 | 0.31 | −1% | +28% | Real Estate | |
| AWK American Water Works | 91Gains when rates fall | 0.52 | 0.34 | −2% | −9% | Utilities | |
| VTR Ventas | 90Gains when rates fall | 0.51 | 0.32 | −11% | +21% | Real Estate | |
| LH Labcorp | 90Gains when rates fall | 0.50 | 0.31 | +13% | +12% | Health Care | |
| CPT Camden Property Trust | 89Gains when rates fall | 0.49 | 0.33 | −15% | −5% | Real Estate | |
| D Dominion Energy | 89Gains when rates fall | 0.49 | 0.32 | −13% | +2% | Utilities | |
| FRT Federal Realty Investment Trust | 88Gains when rates fall | 0.48 | 0.35 | −13% | +9% | Real Estate | |
| CMS CMS Energy | 88Gains when rates fall | 0.47 | 0.39 | −14% | −11% | Utilities | |
| DTE DTE Energy | 88Gains when rates fall | 0.47 | 0.37 | −16% | −10% | Utilities | |
| INVH Invitation Homes | 88Gains when rates fall | 0.47 | 0.32 | −11% | −5% | Real Estate | |
| VICI Vici Properties | 87Gains when rates fall | 0.46 | 0.34 | −13% | −27% | Real Estate | |
| PPL PPL Corporation | 86Gains when rates fall | 0.45 | 0.34 | −5% | −8% | Utilities | |
| ED Consolidated Edison | 85Gains when rates fall | 0.42 | 0.35 | −5% | +5% | Utilities | |
| O Realty Income | 85Gains when rates fall | 0.42 | 0.33 | −16% | −8% | Real Estate | |
| SO Southern Company | 84Gains when rates fall | 0.41 | 0.34 | −11% | −10% | Utilities | |
| LNT Alliant Energy | 83Gains when rates fall | 0.40 | 0.30 | −14% | −3% | Utilities | |
| WEC WEC Energy Group | 83Gains when rates fall | 0.39 | 0.32 | −10% | −9% | Utilities |
How to read this page
How it’s measured. Weekly returns over the past 3 years for S&P 500 and Nasdaq-100 stocks, regressed on the S&P 500 and on TLT’s own move after taking the stock market out of it. Sensitivity is the TLT coefficient.
Sources. Daily prices from Financial Modeling Prep.
Long-term rates are measured through TLT, a fund of 20-year-plus Treasury bonds whose price rises when rates fall. A positive sensitivity means the stock has tended to rise when long-term rates fell, beyond what the stock market explains.
Sensitivities shift as companies refinance, hedge or change their mix of business; three years of weekly data is a guide to the recent relationship.
This page is information, not investment advice. About our data and methods ›