UNSTRUCTURED ALPHAMeasure a portfolio

INDA vs SYY

INDA and SYY clearly differ on 1 of 19 forces. The widest gap is value vs growth: in weeks when value stocks beat growth stocks by 1 percentage point, INDA typically moved +0.06% and SYY +0.59%.

INDASYYBars: 90% ranges. Hollow: could not be told apart from zero.Same figures in the table below.
Economic forceINDAiShares MSCI India ETFSYYSysco
Interest ratesIn weeks when the 10-year Treasury yield rose 0.25 percentage points−0.87%−1.4% to −0.32%Clear−1.0%−2.1% to +0.07%Not distinguishable from zero
Inflation expectationsIn weeks when 10-year inflation expectations rose 0.25 percentage points+1.1%−0.29% to +2.5%Not distinguishable from zero+0.57%−2.0% to +3.2%Not distinguishable from zero
U.S. dollarIn weeks when the trade-weighted U.S. dollar rose 2%−1.0%−1.8% to −0.16%Tentative−0.81%−2.0% to +0.35%Not distinguishable from zero
Oil and energyIn weeks when the price of oil rose 10%−0.81%−1.1% to −0.51%Clear−1.1%−1.8% to −0.38%Tentative
Credit spreadsIn weeks when corporate credit spreads widened 0.25 percentage points+0.17%−0.90% to +1.2%Not distinguishable from zero−0.91%−2.8% to +1.0%Not distinguishable from zero
Short-term ratesIn weeks when the 2-year Treasury yield rose 0.25 percentage points−0.62%−1.5% to +0.28%Not distinguishable from zero−0.32%−2.1% to +1.5%Not distinguishable from zero
Market volatilityIn weeks when market volatility (the VIX) rose 5 points−0.43%−1.1% to +0.19%Not distinguishable from zero+0.32%−0.94% to +1.6%Not distinguishable from zero
Mortgage ratesIn weeks when the 30-year mortgage rate rose 0.25 percentage points−0.21%−0.74% to +0.32%Not distinguishable from zero−0.63%−1.5% to +0.25%Not distinguishable from zero
GoldIn weeks when the price of gold rose 5%+0.05%−0.54% to +0.65%Not distinguishable from zero−0.37%−1.3% to +0.51%Not distinguishable from zero
CopperIn weeks when the price of copper rose 5%+0.21%−0.08% to +0.50%Not distinguishable from zero−0.12%−0.65% to +0.41%Not distinguishable from zero
Natural gasIn weeks when the U.S. natural gas price (Henry Hub) rose 10%−0.03%−0.04% to −0.01%Clear−0.05%−0.07% to −0.04%Clear
BitcoinIn weeks when the price of bitcoin rose 10%+0.06%−0.29% to +0.42%Not distinguishable from zero−0.34%−0.84% to +0.16%Not distinguishable from zero
Small vs large companiesIn weeks when small companies beat large ones by 1 percentage point+0.05%−0.08% to +0.18%Not distinguishable from zero+0.16%−0.07% to +0.38%Not distinguishable from zero
Value vs growthIn weeks when value stocks beat growth stocks by 1 percentage pointClear difference+0.06%−0.08% to +0.20%Not distinguishable from zero+0.59%+0.37% to +0.82%Clear
MomentumIn weeks when recent winners beat the stock market by 1 percentage point−0.08%−0.24% to +0.08%Not distinguishable from zero−0.38%−0.60% to −0.16%Tentative
EuroIn weeks when the euro rose 2% against the U.S. dollar−0.10%−1.0% to +0.83%Not distinguishable from zero−0.59%−2.3% to +1.1%Not distinguishable from zero
Japanese yenIn weeks when the yen rose 2% against the U.S. dollar+0.11%−0.25% to +0.46%Not distinguishable from zero+0.27%−0.53% to +1.1%Not distinguishable from zero
Emerging marketsIn weeks when emerging-market stocks beat the S&P 500 by 1 percentage point+0.18%+0.04% to +0.32%Tentative−0.15%−0.36% to +0.06%Not distinguishable from zero
ChinaIn weeks when Chinese stocks beat other emerging markets by 1 percentage point−0.03%−0.11% to +0.06%Not distinguishable from zero+0.07%−0.04% to +0.18%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.

Measure INDA and SYY togetherWhat if? Move a force

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Every figure on these pages is one stock at a time. The app measures a whole portfolio: which forces it is exposed to, which holdings cause it, and how sure the reading is. Free, no account for the first report.