LKQ is up nearly 180% over the past four years for an impressive 100% greater gain than the MSCI World during that time. However, the stock has shown some distribution problems recently as it has underperformed the MSCI World index by nearly 20% over the...
As we frequently like do here, it’s useful to look back at last week’s major winners and losers from a sector view all the way down to individual stocks. Below are the best and the worst of the MSCI World Index from last week....
The weak start to the year for the domestic stock market has been getting all the press, but the truth is that returns have been lackluster pretty much everywhere. Below we show the equally weighted performance by country for all developed markets and note that...
Let’s take a quick tour of who had the best and worst performance in the light trading week last week. We will start bottom-up and work our way up to the aggregates (and as usual all aggregate data is equal-weighted)....
Last week, the two factors with the highest R-squared to the market were correlation with the Yen and beta. Interestingly, there has been a very clear relationship when looking at stocks with high or low correlation with the Yen over the past year....
The advance-decline ratio is a market breadth indicator that compares the number of stocks that closed higher with the number of stocks that closed lower than their previous day’s closing prices....
Over the past quarter, the Yen was weakened by about 5% while the MSCI World is up about 5.5%. This relationship continued last week as the factor with the highest r-squared to MSCI World stock performance was yen correlation. The factor with the lowest r-squared...
When we look at stocks (whether it’s on an individual security basis, sub-industry, or sector level) we strive to look at it from a 360-degree view....
On an equally weighted basis, the average stock last week was up 1.8% in the MSCI World Index. 4 out of 5 of the best performing stocks came from the MSCI Pacific subset of the MSCI World Index....
We find that it is useful at times to step back from individual stock analysis and compare sectors to understand what are the the dynamics going on in the stock market. When we look at sectors, we look at it from an ”equal-weighted” basis rather...
Earlier today we highlighted how overbought the Telecom sector was, so we thought it only fair to mention that by some valuation metrics it is also the cheapest sector, on average. Below we show two tables of valuation breadth metrics....
One way to look at a cross section of stock valuations is to look at the percent of stocks that are trading above some trailing average valuation level....
We perform a variety of calculations to understand the often imperceptible changes in the underlying structure of the stock market. One calculation we make is to measure the percent of stocks making a new 200-day high. Historically this metric gets the most extended during the...
In the below charts we take the average YoY% change in consumer prices for 33 countries around the world. What we see is a trend of disinflation that started in mid-2011 and continued through September....
The MSCI World index is back to within 2% of an all-time high. Meanwhile the employment to population ratio in the US is languishing at levels not seen since 1983. In 1983, the Billboard top song was Every Breath You Take by the Police....
