Compare two stocks
MCHP and CTSH clearly differ on 3 of 19 forces. The widest gap is emerging markets: in weeks when emerging-market stocks beat the S&P 500 by 1 percentage point, MCHP typically moved +1.1% and CTSH −0.68%.
| Economic force | MCHPMicrochip Technology | CTSHCognizant |
|---|---|---|
| Interest ratesIn weeks when the 10-year Treasury yield rose 0.25 percentage points | +0.04%−1.8% to +1.8%Not distinguishable from zero | −1.1%−2.4% to +0.11%Not distinguishable from zero |
| Inflation expectationsIn weeks when 10-year inflation expectations rose 0.25 percentage points | +2.7%−1.6% to +6.9%Not distinguishable from zero | +3.4%+0.53% to +6.3%Tentative |
| U.S. dollarIn weeks when the trade-weighted U.S. dollar rose 2% | −2.0%−4.4% to +0.32%Not distinguishable from zero | −2.4%−4.6% to −0.30%Tentative |
| Oil and energyIn weeks when the price of oil rose 10% | −0.05%−1.4% to +1.3%Not distinguishable from zero | −0.31%−1.6% to +1.0%Not distinguishable from zero |
| Credit spreadsIn weeks when corporate credit spreads widened 0.25 percentage points | −3.9%−7.7% to −0.04%Tentative | −2.6%−6.1% to +0.92%Not distinguishable from zero |
| Short-term ratesIn weeks when the 2-year Treasury yield rose 0.25 percentage points | −1.7%−4.5% to +1.1%Not distinguishable from zero | −1.9%−4.6% to +0.74%Not distinguishable from zero |
| Market volatilityIn weeks when market volatility (the VIX) rose 5 points | −0.72%−2.2% to +0.76%Not distinguishable from zero | +0.32%−0.77% to +1.4%Not distinguishable from zero |
| Mortgage ratesIn weeks when the 30-year mortgage rate rose 0.25 percentage points | +1.2%−0.16% to +2.5%Not distinguishable from zero | +1.3%−0.38% to +2.9%Not distinguishable from zero |
| GoldIn weeks when the price of gold rose 5% | +0.52%−0.86% to +1.9%Not distinguishable from zero | −0.23%−1.2% to +0.73%Not distinguishable from zero |
| CopperIn weeks when the price of copper rose 5% | +0.22%−0.52% to +1.0%Not distinguishable from zero | +0.06%−0.61% to +0.74%Not distinguishable from zero |
| Natural gasIn weeks when the U.S. natural gas price (Henry Hub) rose 10% | 0.00%−0.03% to +0.02%Not distinguishable from zero | +0.02%−0.03% to +0.07%Not distinguishable from zero |
| BitcoinIn weeks when the price of bitcoin rose 10% | +0.30%−0.84% to +1.4%Not distinguishable from zero | −0.17%−1.0% to +0.64%Not distinguishable from zero |
| Small vs large companiesIn weeks when small companies beat large ones by 1 percentage point | +0.74%+0.32% to +1.2%Tentative | +0.19%−0.20% to +0.57%Not distinguishable from zero |
| Value vs growthIn weeks when value stocks beat growth stocks by 1 percentage point | +0.35%−0.10% to +0.80%Not distinguishable from zero | +0.29%−0.06% to +0.63%Not distinguishable from zero |
| MomentumIn weeks when recent winners beat the stock market by 1 percentage pointClear difference | +0.64%+0.10% to +1.2%Tentative | −1.0%−1.5% to −0.53%Clear |
| EuroIn weeks when the euro rose 2% against the U.S. dollar | −0.59%−3.5% to +2.3%Not distinguishable from zero | +0.51%−2.1% to +3.1%Not distinguishable from zero |
| Japanese yenIn weeks when the yen rose 2% against the U.S. dollar | +0.44%−0.80% to +1.7%Not distinguishable from zero | +0.67%−0.62% to +2.0%Not distinguishable from zero |
| Emerging marketsIn weeks when emerging-market stocks beat the S&P 500 by 1 percentage pointClear difference | +1.1%+0.76% to +1.4%Clear | −0.68%−1.1% to −0.30%Tentative |
| ChinaIn weeks when Chinese stocks beat other emerging markets by 1 percentage pointClear difference | −0.24%−0.49% to +0.01%Not distinguishable from zero | +0.43%+0.12% to +0.74%Tentative |
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.