Emotion enhances the subjective experience of recollection. Previous research examined associations between memory accuracy and metamemory confidence judgments, but these studies have not quantified the relationship between accuracy and metacognitive confidence judgments. In this study we utilize signal detection theory frameworks to investigate how memory accuracy (measured by discrimination sensitivity) and the alignment between metamemory confidence judgments and memory accuracy (ie. metacognitive efficiency) varies for neutral and negative valence, as well as item and associative detail memory types. Our results indicate that valence and memory type have different effects on accuracy, confidence, and metacognitive efficiency. Negative valence was associated with enhanced accuracy for both items and associated details, but its relationship with response bias varied across memory types, with conservative recognition responses observed for items and liberal responses for associative details. We also observed a double dissociation between metamemory confidence judgements across valence and memory type with negative valence associated with increased confidence for item memory, but decreased confidence for associated details. Examining the association between memory accuracy and metamemory confidence revealed that metacognitive efficiency was greater for negatively valenced items compared to neutral, but this effect did not generalize to details associated with negatively valenced items. These findings advance our understanding of how arousing, negatively valenced information modulates memory and metacognition.