Compare two stocks
MS and MRK clearly differ on 1 of 19 forces. The widest gap is momentum: in weeks when recent winners beat the stock market by 1 percentage point, MS typically moved +0.11% and MRK −0.70%.
| Economic force | MSMorgan Stanley | MRKMerck & Co. |
|---|---|---|
| Interest ratesIn weeks when the 10-year Treasury yield rose 0.25 percentage points | −0.93%−2.2% to +0.29%Not distinguishable from zero | −0.94%−2.0% to +0.14%Not distinguishable from zero |
| Inflation expectationsIn weeks when 10-year inflation expectations rose 0.25 percentage points | +2.1%−0.53% to +4.6%Not distinguishable from zero | +1.6%−2.3% to +5.5%Not distinguishable from zero |
| U.S. dollarIn weeks when the trade-weighted U.S. dollar rose 2% | +0.47%−1.4% to +2.4%Not distinguishable from zero | −0.41%−2.2% to +1.3%Not distinguishable from zero |
| Oil and energyIn weeks when the price of oil rose 10% | −0.34%−1.0% to +0.35%Not distinguishable from zero | −0.64%−1.6% to +0.30%Not distinguishable from zero |
| Credit spreadsIn weeks when corporate credit spreads widened 0.25 percentage points | −2.7%−4.8% to −0.57%Tentative | −2.3%−4.8% to +0.28%Not distinguishable from zero |
| Short-term ratesIn weeks when the 2-year Treasury yield rose 0.25 percentage points | +0.18%−1.2% to +1.5%Not distinguishable from zero | −0.49%−3.1% to +2.1%Not distinguishable from zero |
| Market volatilityIn weeks when market volatility (the VIX) rose 5 points | −1.1%−1.9% to −0.32%Tentative | −1.1%−2.1% to −0.04%Tentative |
| Mortgage ratesIn weeks when the 30-year mortgage rate rose 0.25 percentage points | +0.82%−0.40% to +2.0%Not distinguishable from zero | +0.68%−0.43% to +1.8%Not distinguishable from zero |
| GoldIn weeks when the price of gold rose 5% | −0.89%−1.7% to −0.13%Tentative | +0.37%−0.55% to +1.3%Not distinguishable from zero |
| CopperIn weeks when the price of copper rose 5% | −0.14%−0.67% to +0.39%Not distinguishable from zero | +1.0%+0.17% to +1.8%Tentative |
| Natural gasIn weeks when the U.S. natural gas price (Henry Hub) rose 10% | −0.06%−0.09% to −0.02%Tentative | −0.02%−0.03% to 0.00%Tentative |
| BitcoinIn weeks when the price of bitcoin rose 10% | −0.02%−0.76% to +0.72%Not distinguishable from zero | −0.06%−1.3% to +1.2%Not distinguishable from zero |
| Small vs large companiesIn weeks when small companies beat large ones by 1 percentage point | +0.61%+0.43% to +0.80%Clear | +0.48%+0.16% to +0.81%Tentative |
| Value vs growthIn weeks when value stocks beat growth stocks by 1 percentage point | +0.76%+0.50% to +1.0%Clear | +0.78%+0.46% to +1.1%Clear |
| MomentumIn weeks when recent winners beat the stock market by 1 percentage pointClear difference | +0.11%−0.18% to +0.40%Not distinguishable from zero | −0.70%−1.1% to −0.29%Tentative |
| EuroIn weeks when the euro rose 2% against the U.S. dollar | −1.2%−3.4% to +1.0%Not distinguishable from zero | +0.73%−1.4% to +2.9%Not distinguishable from zero |
| Japanese yenIn weeks when the yen rose 2% against the U.S. dollar | 0.00%−0.55% to +0.56%Not distinguishable from zero | −1.2%−2.3% to −0.08%Tentative |
| Emerging marketsIn weeks when emerging-market stocks beat the S&P 500 by 1 percentage point | +0.06%−0.17% to +0.29%Not distinguishable from zero | 0.00%−0.49% to +0.48%Not distinguishable from zero |
| ChinaIn weeks when Chinese stocks beat other emerging markets by 1 percentage point | +0.06%−0.06% to +0.18%Not distinguishable from zero | +0.04%−0.16% to +0.25%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.