Energy And Emerging Market Stocks Are Highly Correlated
Even though energy and financials are both considered to be cyclical sectors, the relative performance of the two sectors has been moderately negatively correlated for the past decade-and-a-half according to analysts at Jefferies.
The analysts, who published their findings in a weekly marketing note from the investment bank at the end of last week, analyzed the relative performance of the energy and financials sector going back to the start of 1990. What the figures show is that despite the fact the sectors are often considered to be cyclical plays the relative returns have been moderately negatively correlated at -0.45 over the past 17 years.
Energy And Emerging Market Stocks Are Highly...
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