Performance – S&P 500 Tech vs. S&P 500 Banks Total Return Relative Tech stocks have weathered the coronavirus panic. The outperformance of tech vs. banks is the biggest since the dotcom bubble and the Global Financial Crisis. Image: BofA Global Investment Strategy
Volatility – VIX Level and S&P 500 67-Day Return The speed of the rally could partly explain why the VIX remains high. Image: Goldman Sachs Global Investment Research
S&P 500 Cumulative Price Return vs. Model Based Solely on Investment Flows and Market Liquidity The analysis from Goldman Sachs suggests that the S&P 500 has underperformed liquidity-adjusted investment flows. Image: Goldman Sachs Global Investment Research
Quarterly Gain >15% and S&P 500 Index Return Big quarterly gains (>15%) tend to see continued strength. Image: LPL Research
Rolling 10-Year Annualized Real GDP Growth vs. Total Return for S&P 500 Index Chart suggesting that the U.S. stock market can ignore the economy for long periods of time. Image: Bloomberg
S&P 500 Index Total Return Drivers Historically, earnings growth drives equity returns over time. Image: Morgan Stanley Research
Equity Positioning and S&P 500 1-Month Forward Returns Equity positioning at -1.2 standard deviations suggests positive S&P 500 1-month forward returns on average. Image: Deutsche Bank Asset Allocation
U.S. Elections and S&P 500 Average 3-Month Forward Return from August 1st During Election Years The S&P 500 tends to see worse-than-average performance leading up to U.S. elections. Image: Morgan Stanley Research
Berkshire Hathaway Annual Return Minus the Total Return of the S&P 500 Heavy on banks, but light on tech. Has Warren Buffett lost his mojo? Image: Financial Times
S&P 500 Median Forward Returns Following 1-Day Return < -5% This chart shows S&P 500 median forward returns following a more than 5% down day. Image: Goldman Sachs Research Division
S&P 500 Subsequent Month Return and Change in 30-Year Real Yield When 30-year real yields rose as much as today, S&P 500 returns the following month were negative 3 times out of 5. Image: Deutsche Bank