The 31-day standard deviation for the daily price change of MSCI World Index has increased from a 20-year low of 0.27% in July to 0.59%. This puts it at the approximately the average level realized in 2013 but still well below the average levels since...
It’s been three years since the global developed stock market has had a meaningful correction (down at least 10%). With the recent pickup in volatility, many of our market internal charts are beginning to look like they did in 2011....
During this recent consolidation stock markets around the world are down anywhere from 5-25% off of their 3-month high (table 1), but there has been a surprising calm in the markets thus far, at least according to some measures....
While many of the headline indices, such as the S&P 500, are still within sniffing distance of all-time highs, there is turmoil underneath the surface of the world equity markets. The MSCI World Index is higher by about 9% year-over-year....
At least 75% of all stocks in each MSCI World sector have seen sales and earnings estimates fall over the past month. Only 10% of industrial stocks have had an increase in sales estimates over the past month and only 16% of industrial stocks have...
While many commenters noted how the Russel 2000 has now entered into a correction after another weak close yesterday, we thought it is noteworthy to highlight that this weakness isn’t just in small-caps like most commenters are implying but it is in large-caps as well....
Below we show the percent of stocks in each MSCI developed market region with positive YTD performance in USD terms. One aiming for a high probability of picking a winning stock would have been well served to avoid Europe this year, and this is becoming...
After a tough start to the year the percent of stocks in the MSCI World Index showing YTD gains rose steadily from less than 30% in February to nearly 80% in July....
The health care sector has undeniably been the stock market leader over the past four years. Looking at the Developed Markets (DM) and Emerging Markets (EM) together, the health care sector has returned 122.4% over the past four years. Besting, the second place consumer discretionary...
We’ve written extensively so far this week about the narrowing leadership in the global stock market....
We have been living in a ZIRP world for over 5 years now....
One way to view the risk profile of a group of companies is to measure the average standard deviation of price changes for that group. We do this for all the sectors and countries comprising the MSCI World Index. This idea is to see how...
When it comes to stock valuation, it makes sense that the fastest growing industries should command the highest valuations. And as we will show, in general this holds true. However, there are always exceptions and this is where one can find interesting mispricings. Let’s set...
Earlier today we highlighted the absolute collapse in the number of stocks experiencing price gaps at the open of trading. In a similar vein we highlight here the absolute collapse in the number of stocks experiencing big price swings on a given day....
We’ve explored on multiple occasions here and here and here the absolute collapse in volatility in most asset classes so far in 2014....
