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) | +1.47% |
| INMEX(MEX) | -1.95% |
| NGSEINDX(NGA) | +0.66% |
| XU030(TUR) | +0.66% |
| BRICS | |
|---|---|
| IBOV(BRA) | -3.26% |
| SHCOMP(CHN) | +2.44% |
| NIFTY(IND) | +2.37% |
| INDEXCF(RUS) | -1.49% |
| TOP40(ZAF) | -0.11% |
| Energy | |
|---|---|
| Heating Oil | -6.15% |
| Natural Gas | -2.38% |
| Ethanol | -1.74% |
| Brent Crude Oil | -5.10% |
| RBOB Gasoline | -4.72% |
| WTI Crude Oil | -4.23% |
| Metals | |
|---|---|
| Gold 100oz | -0.68% |
| Platinum | -0.99% |
| Copper | +0.35% |
| Palladium | -2.75% |
| Silver 5000oz | -2.48% |
| MINTs | |
|---|---|
| USDIDR(IDN) | +1.09% |
| USDMXN(MEX) | +0.83% |
| USDNGN(NGA) | +0.56% |
| USDTRY(TUR) | +1.13% |
| BRICS | |
|---|---|
| USDBRL(BRA) | +0.94% |
| USDCNY(CHN) | -0.09% |
| USDINR(IND) | -0.43% |
| USDRUB(RUS) | +9.81% |
| USDZAR(ZAF) | +0.74% |
| Agricultural | |
|---|---|
| Coffee (Robusta) | -1.56% |
| Lumber | -1.63% |
| White Sugar | -3.21% |
| Corn | -4.64% |
| Feeder Cattle | +4.15% |
| Soybean Meal | -6.21% |
| Cocoa | -0.05% |
| Coffee (Arabica) | -4.97% |
| Cotton | -3.45% |
| Lean Hogs | -0.12% |
| Wheat | -4.92% |
| Cattle | +0.91% |
| Orange Juice | +2.30% |
| Soybeans | -4.37% |
| Sugar #11 | -3.19% |
| Index | Change |
|---|---|
| Markit CDX EM | -0.55% |
| Markit CDX NA HY | -0.58% |
| Markit CDX NA IG | +1.90% |
| Markit iTraxx Asia ex-Japan IG | +1.11% |
| Markit iTraxx Australia | +2.17% |
| Markit iTraxx Europe | +4.55% |
| Markit iTraxx Europe Crossover | +23.20% |
| Markit iTraxx Japan | +0.47% |
| Markit iTraxx SovX Western Europe | -0.83% |
| Markit LCDX (Loan CDS) | -0.24% |
| Markit MCDX (Municipal CDS) | -0.61% |
| Decile | Mkt. Cap. | Adv/Decl |
|---|---|---|
| 1 (micro) | -0.44% | 68/62 |
| 2 | +4.13% | 69/61 |
| 3 | +3.59% | 69/59 |
| 4 | +5.05% | 76/54 |
| 5 | +4.83% | 79/50 |
| 6 | +4.44% | 77/53 |
| 7 | +4.12% | 77/53 |
| 8 | +4.33% | 74/55 |
| 9 | +3.88% | 75/55 |
| 10 (mega) | +1.77% | 66/64 |
| BHEL | +9.44% |
| ADANIPORTS | +10.43% |
| LICHSGFIN | +11.73% |
| BAJAJFINSV | -2.59% |
| M&M | -2.44% |
| GLENMARK | -1.32% |
| JUNIORBEES | +3.69% |
| INFRABEES | +2.60% |
| BANKBEES | +2.52% |
| NIFTYBEES | +2.30% |
| PSUBNKBEES | +2.25% |
| CPSEETF | +1.78% |
| GOLDBEES | -0.41% |
| Sub Index | Change in YTM | Total Return(%) |
|---|---|---|
| GSEC TB | +0.15 | +0.11% |
| GSEC SUB 1-3 | +0.04 | +0.01% |
| GSEC SUB 3-8 | -0.06 | +0.25% |
| GSEC SUB 8 | -0.05 | +0.38% |
| Momentum 200 | +7.39% |
| Financial Strength Value | +5.74% |
| Balance-sheet Strength | +4.95% |
| Market Fliers | +4.93% |
| Old Economy Value | +4.64% |
| Quality to Price | +4.16% |
| IT 3rd Benchers | +3.96% |
| Industrial Value | +3.75% |
| Auto | +3.68% |
| Growth with Moat | +3.66% |
| The Other Value | +3.39% |
| Market Elephants | +3.28% |
| CNX 100 50-Day Tactical | +3.00% |
| Efficient Growth | +2.79% |
| Refract: PPFAS Long Term Value Fund | +2.70% |
| Magic Formula Investing | +2.63% |
| ADAG Mania | +2.38% |
| Piotroski ROC Small Caps | +1.35% |
| Enterprise Yield | +1.27% |
| Momentum Long-Short | +0.00% |
Will Vladimir Putin pose naked to win back Russian affections?
Will China buy Venezuela?
Will Whole Foods open stores across India?
Will Kim Jong Un release a fitness video?
| MINTs | |
|---|---|
| JCI(IDN) | +0.43% |
| INMEX(MEX) | +0.69% |
| NGSEINDX(NGA) | +13.60% |
| XU030(TUR) | +1.50% |
| BRICS | |
|---|---|
| IBOV(BRA) | +2.47% |
| SHCOMP(CHN) | +1.58% |
| NIFTY(IND) | -0.30% |
| INDEXCF(RUS) | -2.16% |
| TOP40(ZAF) | +0.21% |
| Energy | |
|---|---|
| Brent Crude Oil | -1.56% |
| Heating Oil | -2.21% |
| RBOB Gasoline | -2.52% |
| Ethanol | +0.80% |
| Natural Gas | -13.76% |
| WTI Crude Oil | -1.88% |
| Metals | |
|---|---|
| Copper | -2.06% |
| Palladium | +1.23% |
| Gold 100oz | -0.23% |
| Platinum | +1.37% |
| Silver 5000oz | +1.26% |
| MINTs | |
|---|---|
| USDIDR(IDN) | -0.70% |
| USDMXN(MEX) | +0.35% |
| USDNGN(NGA) | +1.11% |
| USDTRY(TUR) | +0.27% |
| BRICS | |
|---|---|
| USDBRL(BRA) | +0.75% |
| USDCNY(CHN) | -0.13% |
| USDINR(IND) | +0.42% |
| USDRUB(RUS) | -9.38% |
| USDZAR(ZAF) | +0.03% |
| Agricultural | |
|---|---|
| Cattle | +1.66% |
| Cotton | +1.63% |
| Feeder Cattle | -3.89% |
| Lumber | -0.24% |
| Orange Juice | -0.87% |
| White Sugar | +0.23% |
| Coffee (Robusta) | -1.84% |
| Corn | +1.35% |
| Wheat | -2.81% |
| Cocoa | +0.00% |
| Lean Hogs | -1.17% |
| Soybean Meal | +3.90% |
| Sugar #11 | -1.41% |
| Coffee (Arabica) | -4.22% |
| Soybeans | +2.05% |
| Index | Change |
|---|---|
| Markit CDX EM | +1.37% |
| Markit CDX NA HY | +0.34% |
| Markit CDX NA IG | -0.81% |
| Markit iTraxx Asia ex-Japan IG | -4.39% |
| Markit iTraxx Australia | -4.03% |
| Markit iTraxx Europe | -4.00% |
| Markit iTraxx Europe Crossover | -20.00% |
| Markit iTraxx Japan | -1.28% |
| Markit iTraxx SovX Western Europe | -2.25% |
| Markit LCDX (Loan CDS) | +0.00% |
| Markit MCDX (Municipal CDS) | +1.08% |
| Decile | Mkt. Cap. | Adv/Decl |
|---|---|---|
| 1 (micro) | -3.05% | 66/70 |
| 2 | -0.47% | 63/72 |
| 3 | -0.82% | 64/72 |
| 4 | -0.50% | 65/69 |
| 5 | -1.73% | 64/72 |
| 6 | -0.27% | 67/68 |
| 7 | +1.35% | 75/61 |
| 8 | +0.02% | 69/66 |
| 9 | +1.19% | 62/74 |
| 10 (mega) | -0.43% | 72/64 |
| BANKINDIA | +5.00% |
| JINDALSTEL | +8.98% |
| UNIONBANK | +9.00% |
| HINDPETRO | -5.26% |
| INFRATEL | -4.89% |
| HINDALCO | -3.68% |
| PSUBNKBEES | +2.35% |
| BANKBEES | +0.85% |
| INFRABEES | +0.80% |
| JUNIORBEES | +0.53% |
| GOLDBEES | -0.01% |
| CPSEETF | -0.36% |
| NIFTYBEES | -0.71% |
| Sub Index | Change in YTM | Total Return(%) |
|---|---|---|
| GSEC TB | -0.42 | +0.27% |
| GSEC SUB 1-3 | -0.15 | +0.60% |
| GSEC SUB 3-8 | +0.02 | +0.22% |
| GSEC SUB 8 | +0.07 | -0.40% |
| Market Fliers | +2.46% |
| Growth with Moat | +2.31% |
| Magic Formula Investing | +1.95% |
| Refract: PPFAS Long Term Value Fund | +1.63% |
| Efficient Growth | +1.19% |
| The Other Value | +0.99% |
| Piotroski ROC Small Caps | +0.91% |
| Old Economy Value | +0.75% |
| Balance-sheet Strength | +0.31% |
| Enterprise Yield | +0.30% |
| ADAG Mania | +0.03% |
| Industrial Value | +0.01% |
| Momentum Long-Short | +0.00% |
| CNX 100 50-Day Tactical | -0.09% |
| Financial Strength Value | -0.38% |
| Market Elephants | -0.41% |
| Quality to Price | -0.58% |
| Momentum 200 | -0.61% |
| IT 3rd Benchers | -0.67% |
| Auto | -1.46% |
Stocks are riskier than bonds. Thus, investors demand a premium, in the form of a higher expected return, as compensation for taking the greater risk stocks entail. The key word is “expected.” If stocks always outperformed, there would be no risk in purchasing them. It’s the risk of the unexpected happening that leads to the equity risk premium.
Source: How To Think About Bear Markets
| MINTs | |
|---|---|
| JCI(IDN) | -0.31% |
| INMEX(MEX) | +2.18% |
| NGSEINDX(NGA) | -1.49% |
| XU030(TUR) | +0.92% |
| BRICS | |
|---|---|
| IBOV(BRA) | +3.43% |
| SHCOMP(CHN) | +5.80% |
| NIFTY(IND) | +0.01% |
| INDEXCF(RUS) | -0.72% |
| TOP40(ZAF) | +2.96% |
| Energy | |
|---|---|
| Ethanol | -5.78% |
| WTI Crude Oil | -0.41% |
| RBOB Gasoline | -1.60% |
| Brent Crude Oil | -1.00% |
| Heating Oil | -2.34% |
| Natural Gas | -8.76% |
| Metals | |
|---|---|
| Gold 100oz | -2.18% |
| Palladium | -1.18% |
| Platinum | -2.83% |
| Copper | -0.68% |
| Silver 5000oz | -7.02% |
| MINTs | |
|---|---|
| USDIDR(IDN) | +0.24% |
| USDMXN(MEX) | -0.68% |
| USDNGN(NGA) | +0.83% |
| USDTRY(TUR) | +0.75% |
| BRICS | |
|---|---|
| USDBRL(BRA) | +0.32% |
| USDCNY(CHN) | +0.53% |
| USDINR(IND) | +1.61% |
| USDRUB(RUS) | +2.29% |
| USDZAR(ZAF) | -0.08% |
| Agricultural | |
|---|---|
| Cocoa | +3.59% |
| Corn | +3.53% |
| Soybean Meal | -3.96% |
| Soybeans | -1.39% |
| Coffee (Arabica) | +0.57% |
| Cotton | +0.12% |
| Feeder Cattle | -2.39% |
| Orange Juice | -5.25% |
| Sugar #11 | -0.40% |
| Wheat | +0.88% |
| Cattle | -0.34% |
| Coffee (Robusta) | -2.21% |
| Lean Hogs | -6.49% |
| Lumber | +0.29% |
| White Sugar | +0.10% |
| Index | Change |
|---|---|
| Markit CDX EM | -0.30% |
| Markit CDX NA HY | +0.52% |
| Markit CDX NA IG | +0.73% |
| Markit iTraxx Asia ex-Japan IG | +8.59% |
| Markit iTraxx Australia | +7.20% |
| Markit iTraxx Europe | +4.16% |
| Markit iTraxx Europe Crossover | +16.58% |
| Markit iTraxx Japan | +2.11% |
| Markit iTraxx SovX Western Europe | +2.94% |
| Markit LCDX (Loan CDS) | -0.18% |
| Markit MCDX (Municipal CDS) | +2.46% |
| Decile | Mkt. Cap. | Adv/Decl |
|---|---|---|
| 1 (micro) | -6.25% | 63/74 |
| 2 | -3.65% | 63/73 |
| 3 | -2.93% | 64/73 |
| 4 | -2.21% | 61/75 |
| 5 | -3.07% | 63/73 |
| 6 | -1.98% | 65/72 |
| 7 | -2.00% | 56/80 |
| 8 | -1.38% | 64/73 |
| 9 | -1.17% | 64/72 |
| 10 (mega) | -0.01% | 68/69 |
| CPSEETF | +3.32% |
| BANKBEES | +0.98% |
| INFRABEES | +0.54% |
| NIFTYBEES | -0.03% |
| JUNIORBEES | -0.22% |
| GOLDBEES | -0.99% |
| PSUBNKBEES | -1.93% |
| Sub Index | Change in YTM | Total Return(%) |
|---|---|---|
| GSEC TB | +0.44 | +0.04% |
| GSEC SUB 1-3 | +0.43 | -0.43% |
| GSEC SUB 3-8 | +0.19 | -0.53% |
| GSEC SUB 8 | +0.08 | -0.34% |
| Auto | +1.48% |
| Market Fliers | +0.53% |
| Quality to Price | +0.49% |
| Refract: PPFAS Long Term Value Fund | +0.48% |
| Enterprise Yield | +0.18% |
| Momentum 200 | +0.09% |
| Momentum Long-Short | +0.00% |
| The Other Value | -0.03% |
| Financial Strength Value | -0.05% |
| Old Economy Value | -0.18% |
| Magic Formula Investing | -0.27% |
| Balance-sheet Strength | -0.32% |
| Piotroski ROC Small Caps | -0.72% |
| Industrial Value | -0.89% |
| Growth with Moat | -1.04% |
| Efficient Growth | -2.02% |
| CNX 100 50-Day Tactical | -2.28% |
| Market Elephants | -2.30% |
| IT 3rd Benchers | -2.31% |
| ADAG Mania | -5.78% |
Source: The Promise of Smart Beta
| MINTs | |
|---|---|
| JCI(IDN) | -0.53% |
| INMEX(MEX) | -3.90% |
| NGSEINDX(NGA) | -7.42% |
| XU030(TUR) | -2.58% |
| BRICS | |
|---|---|
| IBOV(BRA) | -7.42% |
| SHCOMP(CHN) | +0.02% |
| NIFTY(IND) | -3.68% |
| INDEXCF(RUS) | -4.55% |
| TOP40(ZAF) | -3.36% |
| Energy | |
|---|---|
| RBOB Gasoline | -10.98% |
| Ethanol | -3.18% |
| Natural Gas | -0.87% |
| WTI Crude Oil | -13.42% |
| Brent Crude Oil | -11.22% |
| Heating Oil | -5.34% |
| Metals | |
|---|---|
| Copper | +0.34% |
| Gold 100oz | +2.74% |
| Palladium | +1.51% |
| Platinum | +0.66% |
| Silver 5000oz | +5.56% |
| MINTs | |
|---|---|
| USDIDR(IDN) | +1.37% |
| USDMXN(MEX) | +2.25% |
| USDNGN(NGA) | -0.98% |
| USDTRY(TUR) | +1.61% |
| BRICS | |
|---|---|
| USDBRL(BRA) | +2.24% |
| USDCNY(CHN) | +0.59% |
| USDINR(IND) | +0.83% |
| USDRUB(RUS) | +10.19% |
| USDZAR(ZAF) | +2.05% |
| Agricultural | |
|---|---|
| Corn | +4.55% |
| Cotton | -0.49% |
| Lean Hogs | -4.11% |
| Wheat | +3.80% |
| Cocoa | -3.08% |
| Sugar #11 | -0.92% |
| White Sugar | -1.09% |
| Coffee (Arabica) | -2.77% |
| Feeder Cattle | -4.18% |
| Orange Juice | +4.01% |
| Soybean Meal | -3.86% |
| Cattle | -2.12% |
| Coffee (Robusta) | -4.66% |
| Lumber | +0.24% |
| Soybeans | +1.82% |
| Index | Change |
|---|---|
| Markit CDX EM | -2.51% |
| Markit CDX NA HY | -1.44% |
| Markit CDX NA IG | +6.32% |
| Markit iTraxx Asia ex-Japan IG | +1.58% |
| Markit iTraxx Australia | +2.31% |
| Markit iTraxx Europe | +2.14% |
| Markit iTraxx Europe Crossover | +18.62% |
| Markit iTraxx Japan | +2.77% |
| Markit iTraxx SovX Western Europe | +0.48% |
| Markit LCDX (Loan CDS) | -0.37% |
| Markit MCDX (Municipal CDS) | +2.93% |
| Decile | Mkt. Cap. | Adv/Decl |
|---|---|---|
| 1 (micro) | -7.17% | 67/72 |
| 2 | -4.35% | 62/77 |
| 3 | -4.12% | 55/84 |
| 4 | -4.96% | 56/83 |
| 5 | -5.77% | 54/85 |
| 6 | -5.63% | 61/78 |
| 7 | -4.51% | 61/79 |
| 8 | -3.75% | 66/72 |
| 9 | -4.15% | 68/71 |
| 10 (mega) | -3.60% | 74/66 |
| GOLDBEES | +2.44% |
| PSUBNKBEES | -2.50% |
| BANKBEES | -3.04% |
| NIFTYBEES | -3.82% |
| JUNIORBEES | -3.87% |
| CPSEETF | -4.86% |
| INFRABEES | -7.22% |
| Sub Index | Change in YTM | Total Return(%) |
|---|---|---|
| GSEC TB | -0.10 | +0.18% |
| GSEC SUB 1-3 | -0.01 | +0.35% |
| GSEC SUB 3-8 | -0.17 | +0.64% |
| GSEC SUB 8 | -0.17 | +0.89% |
| Momentum Long-Short | +0.00% |
| Piotroski ROC Small Caps | -1.30% |
| Efficient Growth | -1.40% |
| Growth with Moat | -2.21% |
| Refract: PPFAS Long Term Value Fund | -2.55% |
| IT 3rd Benchers | -2.58% |
| Momentum 200 | -2.61% |
| Market Elephants | -2.68% |
| Financial Strength Value | -2.79% |
| Balance-sheet Strength | -3.05% |
| CNX 100 50-Day Tactical | -3.85% |
| Magic Formula Investing | -4.10% |
| Industrial Value | -4.34% |
| The Other Value | -4.52% |
| Enterprise Yield | -4.59% |
| Quality to Price | -4.84% |
| Old Economy Value | -5.66% |
| Market Fliers | -5.71% |
| ADAG Mania | -5.72% |
| Auto | -7.64% |
They’re giving you an ex-post description of the beliefs of your fellow guessers who are no better at explaining day-to-day randomness than you are.
Source: They’re all making it up.
Related: Why Do Models Beat Experts?