S&P 500 sector correlations are low, a welcome sign for 2023 bull market, says DataTrek

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 48 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 97%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

U.S. stocks remain in a strong bull market despite recent choppiness, as the correlations between 11 S&P 500 sectors and the major index are sending some...

U.S. stocks remain in a strong bull market despite recent choppiness, as the correlations between 11 S&P 500 sectors and the major index are sending some positive signs, according to DataTrek Research.

Colas said normally in bull markets, investors hope to beat the broader stock market by selecting top gainers and sectors, so corporate and industry fundamentals matter more than macroeconomic factors such as interest rates, recession risks and geopolitical concerns. A correlation value close to zero indicates a weak relationship between the two variables being compared, while a value close to one means a strong correlation between them.

The S&P 500 SPX officially exited its longest bear-market run since 1948 and entered the bull market in early June. The S&P 500 Consumer Discretionary Sector XX:SP500.25 and the Communication Services Sector XX:SP500.50 have advanced 35.5% and 44.1% year to date, respectively, compared with the S&P 500’s 16.6% gain so far this year, according to FactSet data. The S&P 500 Consumer Staples Sector XX:SP500.30 was off 2.9%, while the Utilities Sector XX:SP500.55 has dropped 10.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 3. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

S&P 500: How to Protect Your Profits in a Sideways MarketStocks Analysis by Jani Ziedins covering: S&P 500, iShares Core S&P 500 ETF, SPDR® S&P 500, S&P 500 Futures. Read Jani Ziedins's latest article on Investing.com
Källa: Investingcom - 🏆 450. / 53 Läs mer »

How Long Can Mega-Cap Stocks Keep Fueling S&P 500 Rally?Stocks Analysis by Investing.com (Calogero Selvaggio) covering: S&P 500, Microsoft Corporation, iShares Core S&P 500 ETF, SPDR® S&P 500. Read Investing.com (Calogero Selvaggio)'s latest article on Investing.com
Källa: Investingcom - 🏆 450. / 53 Läs mer »