Tag Archives: sectors

Do Signals From Earnings Revisions Matter for Size- or Sector-Neutral Fundamental Factor Strategies?

In our earlier blog, “How Important Are Earnings Revisions Signals for Fundamental Factor Strategies in Asia?”, we discussed that the signals from earnings revisions were important for fundamental factor strategies applied across broad markets. They reduced the risk and enhanced the return of the comparable factor portfolios, across the majority of markets. In our research Read more […]

Before & After The Sector Shakeup In The S&P 500 – Part 2

In part 1 of this post, the current sector weights, returns and correlations of the S&P 500 are shown, as well as a map depicting the expanded telecommunication services sector into communication services.  Now, here’s a deeper dive into what is moving and its impact. While the entire list of companies moving can be found Read more […]

Before & After The Sector Shakeup In The S&P 500 – Part 1

The Global Industry Classification Standard (GICS) was first developed in 1999 as a four-tiered, hierarchical industry classification system.  It is managed jointly by S&P Dow Jones Indices and MSCI to serve as the major global industry framework for investment research, portfolio management, and asset allocation.  Each company is assigned a single GICS classification at the sub-industry Read more […]

The S&P 600 Escapes Suffocation From Q4 Benchmark Hugging

Small caps are outperforming large caps significantly in 2018, mainly from the tax cuts, growth,  strong dollar and concern about international trade.  This has driven the S&P 600 (TR) 8.4% higher than the S&P 500 (TR) (year-to-date through Aug.31, 2018,) measuring the 5th biggest small cap premium in history since 1995, and is the biggest Read more […]

What September Brings for the S&P/CLX Index Series

September is here. The entire Chilean investment community has been looking forward to this month for many reasons. For one, the transition of operations of the Chilean indices has been completed. S&P Dow Jones Indices (S&P DJI) is now the official index administrator of the Bolsa de Santiago’s indices. Secondly, the rebalancing and reweighting of Read more […]

Introducing the S&P Global 1200 Communication Services Sector

The S&P Global 1200 can’t stay the same. Along with the S&P 500® and other headline indices from S&P DJI, many companies within the S&P Global 1200 will be given new sector assignments due to the upcoming Sept. 24, 2018, GICS® updates. The most visible change will be the renaming of the Telecommunication Services sector Read more […]

The Biggest Bull Didn’t Win

The big news in August was that the aging Bull market (since March 9, 2009) became the longest-running Bull market in S&P 500 history, as it posted an annualized 16.6% equity return and 19.1% with dividends, as my colleague, Howard Silverblatt pointed out.  While the record-breaking Bull market for the S&P 500 is spectacular, mid-caps and Read more […]

Relative Performance Impacts From the Introduction of Communication Services

S&P Dow Jones Indices will reshuffle stocks in September to reflect the revised structure of the Global Industry Classification Standard (GICS®) in its indices. The move will see telecommunication services replaced by a new sector called communication services. Its constituents will transfer from telecommunication, information technology (IT), and consumer discretionary. Exhibit 1 shows affected S&P Read more […]

Getting to Know the S&P BSE 500

Over the past three to four decades, the Indian equity market has witnessed significant growth, on account of increasing foreign capital flows and participation by domestic institutional investors. The expanding depth and breadth has brought a stronger demand from market participants for suitable benchmarks. The S&P BSE SENSEX launched in 1986 and was the first Read more […]

Juxtaposition and Paradox

Effective prior to the market open on Sept. 24, 2018, the Telecommunication Services sector will be replaced with a new Communication Services sector, which will combine telecom with parts of the Information Technology and Consumer Discretionary sectors. As a result, Telecom, the ugly duckling sector comprising three stodgy telephone companies, will now be joined by Read more […]