Invest Without Emotions
A lot of thick blue squares mean that positive correlations are high. Red squares mean negative correlations are high. Whites are the doldrums.
| MINTs | |
|---|---|
| JCI(IDN) | -6.42% |
| INMEX(MEX) | -1.97% |
| NGSEINDX(NGA) | +0.64% |
| XU030(TUR) | -1.90% |
| BRICS | |
|---|---|
| IBOV(BRA) | -0.74% |
| SHCOMP(CHN) | +1.09% |
| NIFTY(IND) | -1.49% |
| INDEXCF(RUS) | +0.34% |
| TOP40(ZAF) | -1.57% |
| Energy | |
|---|---|
| Heating Oil | +3.51% |
| Ethanol | -0.06% |
| Brent Crude Oil | +2.61% |
| Natural Gas | +9.66% |
| RBOB Gasoline | +2.36% |
| WTI Crude Oil | +3.93% |
| Metals | |
|---|---|
| Gold 100oz | +0.07% |
| Palladium | +0.62% |
| Copper | +6.91% |
| Platinum | +0.85% |
| Silver 5000oz | +1.90% |
| MINTs | |
|---|---|
| USDIDR(IDN) | +0.20% |
| USDMXN(MEX) | +1.01% |
| USDNGN(NGA) | -0.26% |
| USDTRY(TUR) | -0.40% |
| BRICS | |
|---|---|
| USDBRL(BRA) | +1.68% |
| USDCNY(CHN) | +0.14% |
| USDINR(IND) | -0.22% |
| USDRUB(RUS) | +1.76% |
| USDZAR(ZAF) | -0.36% |
| Agricultural | |
|---|---|
| Cocoa | +0.61% |
| Coffee (Arabica) | -7.30% |
| Coffee (Robusta) | -3.84% |
| Cotton | +1.74% |
| Cattle | -7.32% |
| Lean Hogs | +6.12% |
| Lumber | -1.59% |
| Orange Juice | -0.83% |
| Soybeans | -0.05% |
| Sugar #11 | -1.75% |
| Feeder Cattle | -0.68% |
| Wheat | -3.04% |
| White Sugar | -0.35% |
| Corn | -1.17% |
| Soybean Meal | +0.13% |
| Index | Change |
|---|---|
| Markit CDX EM | -0.13% |
| Markit CDX NA HY | -0.15% |
| Markit CDX NA IG | +1.38% |
| Markit iTraxx Asia ex-Japan IG | -0.23% |
| Markit iTraxx Australia | +0.03% |
| Markit iTraxx Europe | +0.76% |
| Markit iTraxx Europe Crossover | +7.53% |
| Markit iTraxx Japan | +0.72% |
| Markit iTraxx SovX Western Europe | -0.02% |
| Markit LCDX (Loan CDS) | +0.00% |
| Markit MCDX (Municipal CDS) | -0.41% |
For a deeper dive into indices, check out our weekly Index Update.
| Decile | Mkt. Cap. | Adv/Decl |
|---|---|---|
| 1 | -8.22% | 64/68 |
| 2 | -5.11% | 56/75 |
| 3 | -5.87% | 50/81 |
| 4 | -3.93% | 57/74 |
| 5 | -4.40% | 62/69 |
| 6 | -3.90% | 61/70 |
| 7 | -3.51% | 56/75 |
| 8 | -4.70% | 64/67 |
| 9 | -4.26% | 59/72 |
| 10 | -1.21% | 70/62 |
| MOTHERSUMI | +7.93% |
| SIEMENS | +10.80% |
| UPL | +12.87% |
| UBL | -12.70% |
| APOLLOHOSP | -12.21% |
| ITC | -7.36% |
| BANKBEES | +2.20% |
| GOLDBEES | +1.00% |
| JUNIORBEES | -0.71% |
| NIFTYBEES | -1.19% |
| PSUBNKBEES | -1.47% |
| CPSEETF | -2.27% |
| INFRABEES | -3.91% |
| Sub Index | Change in YTM | Total Return(%) |
|---|---|---|
| GSEC TB | -0.18 | +0.18% |
| GSEC SUB 1-3 | -0.04 | +0.34% |
| GSEC SUB 3-8 | -0.00 | +0.26% |
| GSEC SUB 8 | +0.02 | +0.12% |
| Textile, Metals, Chemicals, Paper and Energy Quality to Price | +2.46% |
| Financial Strength Value | +2.29% |
| Next Trillion | +1.99% |
| Media, Health, IT, Telecom, Services, Pharma Quality To Price | +1.03% |
| Low Volatility | +0.86% |
| Auto and Consumer Goods Quality to Price | +0.83% |
| The RBI Restricted List | +0.37% |
| Tactical CNX 100 | -0.00% |
| CNX 100 Enterprise Yield | -0.17% |
| PPFAS Long Term Value | -0.52% |
| ASK Life | -0.55% |
| Momentum | -0.98% |
| High Beta | -1.18% |
| Balance Sheet Strength | -1.46% |
| ADAG stocks | -3.10% |
| Quality to Price | -3.23% |
| Magic Formula | -5.12% |
The issue of inequality has never been about the fairness of the results, but should focus on the equality of opportunity.
The neo-classical solutions that the markets will take care of everything risks the kind of social instability seen in places like Ferguson, Baltimore, or worse.
You can use comparative advantages, such as low labor costs and convenient geographic proximity to markets, to spur development. But the Porter-Jacobs framework doesn’t explain why India and China succeeded and Kenya and Egypt didn’t.
You are left with culture: both the Jews and the Romani (Gypsies) have historically been outcasts in Europe. How did one group succeed and acquire power (e.g., the Rothchilds) and the other remains shunned throughout the region?
We run our proprietary momentum scoring algorithm on indices just like we do on stocks. You can use the momentum scores of sub-indices to get a sense for which sectors have the wind on their backs and those that are facing headwinds.
Traders can pick their longs in sectors with high short-term momentum and their shorts in sectors with low momentum. Investors can use the longer lookback scores to position themselves using our re-factored index Themes.
You can see how the momentum algorithm has performed on individual stocks here.
Here are the best and the worst sub-indices:
50-day performance, from February 16, 2015 through April 30, 2015:
| Index | Signal | % From Peak | Day of Peak |
|---|---|---|---|
| CNX AUTO | SHORT |
10.02
|
2015-Jan-27
|
| CNX BANK | SHORT |
10.79
|
2015-Jan-27
|
| CNX ENERGY | SHORT |
30.64
|
2008-Jan-14
|
| CNX FMCG | SHORT |
12.49
|
2015-Feb-25
|
| CNX INFRA | SHORT |
49.61
|
2008-Jan-09
|
| CNX IT | SHORT |
88.48
|
2000-Feb-21
|
| CNX MEDIA | SHORT |
30.24
|
2008-Jan-04
|
| CNX METAL | SHORT |
56.27
|
2008-Jan-04
|
| CNX MNC | SHORT |
6.12
|
2015-Mar-12
|
| CNX NIFTY | SHORT |
9.06
|
2015-Mar-03
|
| CNX PHARMA | SHORT |
12.82
|
2015-Apr-08
|
| CNX PSE | SHORT |
27.16
|
2008-Jan-04
|
| CNX REALTY | SHORT |
89.10
|
2008-Jan-14
|
A lot of thick blue squares mean that positive correlations are high. Red squares mean negative correlations are high. Whites are the doldrums.
| MINTs | |
|---|---|
| JCI(IDN) | +0.46% |
| INMEX(MEX) | +1.18% |
| NGSEINDX(NGA) | -1.48% |
| XU030(TUR) | +3.81% |
| BRICS | |
|---|---|
| IBOV(BRA) | +4.90% |
| SHCOMP(CHN) | +2.48% |
| NIFTY(IND) | -3.49% |
| INDEXCF(RUS) | +1.58% |
| TOP40(ZAF) | +3.10% |
| Energy | |
|---|---|
| Heating Oil | +2.53% |
| RBOB Gasoline | +4.33% |
| Brent Crude Oil | +2.97% |
| Ethanol | -1.12% |
| Natural Gas | -4.16% |
| WTI Crude Oil | +3.44% |
| Metals | |
|---|---|
| Copper | -1.08% |
| Palladium | -1.66% |
| Gold 100oz | -2.15% |
| Silver 5000oz | -3.07% |
| Platinum | -3.70% |
| MINTs | |
|---|---|
| USDIDR(IDN) | +0.56% |
| USDMXN(MEX) | +0.16% |
| USDNGN(NGA) | -0.25% |
| USDTRY(TUR) | +1.08% |
| BRICS | |
|---|---|
| USDBRL(BRA) | -3.55% |
| USDCNY(CHN) | -0.05% |
| USDINR(IND) | +1.92% |
| USDRUB(RUS) | -2.42% |
| USDZAR(ZAF) | +0.35% |
| Agricultural | |
|---|---|
| Corn | -4.14% |
| Cotton | +5.64% |
| Feeder Cattle | +1.27% |
| Wheat | -1.57% |
| Soybean Meal | -0.10% |
| Sugar #11 | +0.00% |
| Coffee (Robusta) | -0.22% |
| White Sugar | +0.78% |
| Cattle | +2.17% |
| Cocoa | +1.29% |
| Coffee (Arabica) | +1.83% |
| Lean Hogs | +1.58% |
| Lumber | +3.72% |
| Orange Juice | -1.00% |
| Soybeans | +0.03% |
| Index | Change |
|---|---|
| Markit CDX EM | +0.02% |
| Markit CDX NA HY | +0.02% |
| Markit CDX NA IG | +0.08% |
| Markit iTraxx Asia ex-Japan IG | +0.29% |
| Markit iTraxx Australia | +2.10% |
| Markit iTraxx Europe | +2.28% |
| Markit iTraxx Europe Crossover | -0.19% |
| Markit iTraxx Japan | -0.15% |
| Markit iTraxx SovX Western Europe | +2.70% |
| Markit LCDX (Loan CDS) | +0.00% |
| Markit MCDX (Municipal CDS) | -1.28% |
For a deeper dive into indices, check out our weekly Index Update.
| Decile | Mkt. Cap. | Adv/Decl |
|---|---|---|
| 1 (micro) | -3.87% | 70/63 |
| 2 | -2.51% | 63/70 |
| 3 | -2.25% | 60/73 |
| 4 | -3.61% | 58/74 |
| 5 | -3.80% | 61/72 |
| 6 | -3.02% | 58/75 |
| 7 | -3.28% | 58/74 |
| 8 | -3.48% | 58/75 |
| 9 | -3.61% | 62/71 |
| 10 (mega) | -3.65% | 65/68 |
| GOLDBEES | +0.65% |
| INFRABEES | -0.93% |
| BANKBEES | -1.95% |
| JUNIORBEES | -2.00% |
| CPSEETF | -3.58% |
| NIFTYBEES | -3.87% |
| PSUBNKBEES | -5.98% |
| Sub Index | Change in YTM | Total Return(%) |
|---|---|---|
| GSEC TB | +0.08 | +0.12% |
| GSEC SUB 1-3 | -0.07 | +0.03% |
| GSEC SUB 3-8 | +0.02 | -0.02% |
| GSEC SUB 8 | +0.03 | +0.05% |
| Tactical CNX 100 | +0.00% |
| Balance Sheet Strength | -3.09% |
| Textile, Metals, Chemicals, Paper and Energy Quality to Price | -3.15% |
| CNX 100 Enterprise Yield | -4.33% |
| High Beta | -4.49% |
| Magic Formula | -4.97% |
| Auto and Consumer Goods Quality to Price | -4.98% |
| Media, Health, IT, Telecom, Services, Pharma Quality To Price | -5.33% |
| ASK Life | -5.89% |
| ADAG stocks | -6.12% |
| Momentum | -6.36% |
| Quality to Price | -6.62% |
| Low Volatility | -7.41% |
| Next Trillion | -7.53% |
| Financial Strength Value | -8.44% |
| PPFAS Long Term Value | -11.60% |