Compare two stocks
MSFT and AVGO clearly differ on 4 of 19 forces. The widest gap is momentum: in weeks when recent winners beat the stock market by 1 percentage point, MSFT typically moved −0.51% and AVGO +0.86%.
| Economic force | MSFTMicrosoft | AVGOBroadcom |
|---|---|---|
| Interest ratesIn weeks when the 10-year Treasury yield rose 0.25 percentage points | +1.4%+0.54% to +2.2%Clear | +1.6%−1.1% to +4.3%Not distinguishable from zero |
| Inflation expectationsIn weeks when 10-year inflation expectations rose 0.25 percentage points | −1.9%−4.4% to +0.66%Not distinguishable from zero | −3.1%−10.2% to +4.1%Not distinguishable from zero |
| U.S. dollarIn weeks when the trade-weighted U.S. dollar rose 2% | −0.22%−1.6% to +1.1%Not distinguishable from zero | −0.24%−3.0% to +2.5%Not distinguishable from zero |
| Oil and energyIn weeks when the price of oil rose 10% | −0.11%−1.1% to +0.89%Not distinguishable from zero | +1.2%−0.10% to +2.5%Not distinguishable from zero |
| Credit spreadsIn weeks when corporate credit spreads widened 0.25 percentage points | +2.8%+0.36% to +5.2%Tentative | +2.4%−1.8% to +6.7%Not distinguishable from zero |
| Short-term ratesIn weeks when the 2-year Treasury yield rose 0.25 percentage points | −0.68%−2.6% to +1.3%Not distinguishable from zero | +0.78%−1.9% to +3.5%Not distinguishable from zero |
| Market volatilityIn weeks when market volatility (the VIX) rose 5 points | +1.3%+0.36% to +2.2%Tentative | +1.4%+0.09% to +2.6%Tentative |
| Mortgage ratesIn weeks when the 30-year mortgage rate rose 0.25 percentage points | −0.54%−1.7% to +0.59%Not distinguishable from zero | −1.5%−3.2% to +0.33%Not distinguishable from zero |
| GoldIn weeks when the price of gold rose 5% | +0.19%−0.54% to +0.91%Not distinguishable from zero | +1.0%−0.48% to +2.4%Not distinguishable from zero |
| CopperIn weeks when the price of copper rose 5% | −0.51%−1.0% to −0.03%Tentative | −0.36%−1.2% to +0.52%Not distinguishable from zero |
| Natural gasIn weeks when the U.S. natural gas price (Henry Hub) rose 10%Clear difference | +0.04%+0.02% to +0.07%Tentative | −0.07%−0.12% to −0.03%Tentative |
| BitcoinIn weeks when the price of bitcoin rose 10% | +0.49%−0.22% to +1.2%Not distinguishable from zero | +0.54%−0.54% to +1.6%Not distinguishable from zero |
| Small vs large companiesIn weeks when small companies beat large ones by 1 percentage point | −0.66%−0.88% to −0.43%Clear | −0.79%−1.1% to −0.43%Clear |
| Value vs growthIn weeks when value stocks beat growth stocks by 1 percentage pointClear difference | −0.80%−1.1% to −0.53%Clear | −1.5%−1.9% to −1.1%Clear |
| MomentumIn weeks when recent winners beat the stock market by 1 percentage pointClear difference | −0.51%−1.1% to +0.04%Not distinguishable from zero | +0.86%+0.44% to +1.3%Clear |
| EuroIn weeks when the euro rose 2% against the U.S. dollar | +1.0%−0.76% to +2.8%Not distinguishable from zero | +2.8%−0.55% to +6.2%Not distinguishable from zero |
| Japanese yenIn weeks when the yen rose 2% against the U.S. dollar | +0.27%−0.93% to +1.5%Not distinguishable from zero | −0.72%−2.1% to +0.64%Not distinguishable from zero |
| Emerging marketsIn weeks when emerging-market stocks beat the S&P 500 by 1 percentage pointClear difference | −0.44%−0.72% to −0.17%Tentative | +0.36%−0.17% to +0.88%Not distinguishable from zero |
| ChinaIn weeks when Chinese stocks beat other emerging markets by 1 percentage point | +0.09%−0.15% to +0.33%Not distinguishable from zero | −0.10%−0.31% to +0.12%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.