Beta measures a stock’s volatility in comparison to a relevant benchmark. The market, such as the S&P 500 Index, has a beta of 1.0.A beta above 1.0 suggests a stock is more volatile than the broader market, and a beta below 1.0 indicates the opposite. Low-beta stocks can provide several beneficial advantages for portfolios, including defensive qualities.They can also offer stabilization when combined with high-beta stocks, helping to give a more balanced risk profile.Three low-beta stocks – Interactive Brokers (IBKR) , Elevance Health (ELV) , and Unum Group (UNM) – could all be considered for those looking for a more conservative approach.In addition to decreased volatility, all three sport a favorable Zacks Rank, reflecting optimism among analysts.Let’s take a closer look at each. Unum GroupUnum Group provides disability insurance, long-term care insurance, life insurance, and employee-paid group benefits and related services. Earnings expectations have been raised across all timeframes, with the stock carrying the highly-coveted Zacks Rank #1 (Strong Buy).
Image Source: Zacks Investment ResearchInvestors also stand to reap a passive income from UNM shares, currently yielding 2.8% annually. Dividend growth is also apparent, with the company sporting a 6.2% five-year annualized dividend growth rate. 
Image Source: Zacks Investment Research Elevance HealthElevance Health operates as a health benefits company, supporting consumers, families, and communities throughout the care journey to lead healthier lives. The company sports a favorable Zacks Rank #2 (Buy), with earnings expectations inching higher nearly across the board.ELV’s latest quarterly results pleased investors, with shares moving well higher after the earnings release. Regarding headline figures, Elevance posted a 1.3% beat relative to the Zacks Consensus EPS estimate and reported sales 1.5% above expectations.Earnings grew 7.5% year over year, whereas sales increased 7%. Below is a chart illustrating the company’s quarterly revenue. 
Image Source: Zacks Investment Research Interactive BrokersInteractive Brokers Group operates as an automated global electronic market maker and broker. Analysts have positively revised expectations across the board, landing the stock into a Zacks Rank #2 (Buy).
Image Source: Zacks Investment ResearchKeep an eye out for the company’s upcoming release expected in mid-April, with consensus expectations alluding to 17% earnings growth on 11% higher sales. It’s also worth noting that the stock is a big-time outperformer over the last two years, adding +66% in value compared to the S&P 500’s 18% gain. Increased trading activity has benefited the company nicely over recent years. 
Image Source: Zacks Investment Research Bottom LineLow-beta stocks can provide several beneficial advantages for portfolios, including defensive qualities.They can also offer stabilization when combined with high-beta stocks, helping to give a more balanced risk profile.And for those seeking a more conservative approach, all three low-beta stocks above – Interactive Brokers, Elevance Health, and Unum Group – could be considerations.In addition to decreased volatility, all three sport favorable Zacks Ranks, reflecting optimism among analysts.More By This Author:Are These 3 Beaten-Down S&P 500 Members Worth A Look?These 3 Companies Posted Record-Breaking QuartersThese 3 Buy-Rated Stocks Have Been Red-Hot
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