Compare two stocks
GS and SPGI clearly differ on 2 of 19 forces. The widest gap is momentum: in weeks when recent winners beat the stock market by 1 percentage point, GS typically moved +0.20% and SPGI −0.56%.
| Economic force | GSGoldman Sachs | SPGIS&P Global |
|---|---|---|
| Interest ratesIn weeks when the 10-year Treasury yield rose 0.25 percentage points | −1.9%−2.7% to −1.0%Clear | −2.2%−3.3% to −1.1%Clear |
| Inflation expectationsIn weeks when 10-year inflation expectations rose 0.25 percentage points | +4.1%+1.8% to +6.4%Clear | +2.6%+0.56% to +4.6%Tentative |
| U.S. dollarIn weeks when the trade-weighted U.S. dollar rose 2% | +0.18%−1.4% to +1.7%Not distinguishable from zero | +0.31%−0.64% to +1.3%Not distinguishable from zero |
| Oil and energyIn weeks when the price of oil rose 10% | −0.17%−0.84% to +0.50%Not distinguishable from zero | −0.03%−0.68% to +0.62%Not distinguishable from zero |
| Credit spreadsIn weeks when corporate credit spreads widened 0.25 percentage points | −2.9%−5.4% to −0.35%Tentative | −1.4%−3.3% to +0.47%Not distinguishable from zero |
| Short-term ratesIn weeks when the 2-year Treasury yield rose 0.25 percentage points | +0.68%−0.86% to +2.2%Not distinguishable from zero | −0.92%−2.5% to +0.65%Not distinguishable from zero |
| Market volatilityIn weeks when market volatility (the VIX) rose 5 points | −1.1%−1.8% to −0.37%Tentative | −0.05%−0.73% to +0.63%Not distinguishable from zero |
| Mortgage ratesIn weeks when the 30-year mortgage rate rose 0.25 percentage points | +0.53%−0.88% to +1.9%Not distinguishable from zero | −0.91%−1.7% to −0.14%Tentative |
| GoldIn weeks when the price of gold rose 5% | −1.4%−2.0% to −0.88%Clear | −0.36%−1.1% to +0.39%Not distinguishable from zero |
| CopperIn weeks when the price of copper rose 5% | −0.34%−0.87% to +0.18%Not distinguishable from zero | −0.37%−0.89% to +0.14%Not distinguishable from zero |
| Natural gasIn weeks when the U.S. natural gas price (Henry Hub) rose 10% | −0.05%−0.09% to −0.02%Tentative | −0.01%−0.03% to +0.01%Not distinguishable from zero |
| BitcoinIn weeks when the price of bitcoin rose 10% | −0.01%−0.66% to +0.64%Not distinguishable from zero | +0.23%−0.78% to +1.2%Not distinguishable from zero |
| Small vs large companiesIn weeks when small companies beat large ones by 1 percentage pointClear difference | +0.53%+0.36% to +0.70%Clear | −0.10%−0.44% to +0.23%Not distinguishable from zero |
| Value vs growthIn weeks when value stocks beat growth stocks by 1 percentage point | +0.67%+0.47% to +0.87%Clear | +0.18%−0.19% to +0.55%Not distinguishable from zero |
| MomentumIn weeks when recent winners beat the stock market by 1 percentage pointClear difference | +0.20%−0.07% to +0.46%Not distinguishable from zero | −0.56%−1.0% to −0.13%Tentative |
| EuroIn weeks when the euro rose 2% against the U.S. dollar | −0.73%−2.8% to +1.3%Not distinguishable from zero | +0.25%−1.7% to +2.2%Not distinguishable from zero |
| Japanese yenIn weeks when the yen rose 2% against the U.S. dollar | −0.03%−0.70% to +0.65%Not distinguishable from zero | −0.18%−1.1% to +0.74%Not distinguishable from zero |
| Emerging marketsIn weeks when emerging-market stocks beat the S&P 500 by 1 percentage point | −0.07%−0.31% to +0.17%Not distinguishable from zero | −0.64%−1.0% to −0.31%Clear |
| ChinaIn weeks when Chinese stocks beat other emerging markets by 1 percentage point | −0.01%−0.14% to +0.13%Not distinguishable from zero | +0.16%−0.03% to +0.35%Not distinguishable from zero |
Each figure is the stock's typical move in a week when the force moved by the stated amount, after accounting for the stock market, with its 90% range beneath. Grey figures could not be told apart from zero. A row is marked a clear difference only when the two 90% ranges do not overlap.
This describes the past, and it is not a forecast. Relationships change, and nothing here is a recommendation to buy, sell or hold any security.