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 […]
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 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 […]
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 […]
In accordance with the announced upcoming communication services sector change, the new Communication Services Select Sector Index is now live. The select sectors are based on the Global Industry Classification Standard (GICS®) but have different construction rules than the sectors of the S&P 500. In the Select Sectors, each index is made up of all Read more […]
The first quarter of 2018 will be remembered as the quarter that ended the 9 quarter winning streak for the S&P 500 (TR). As the volatility rose, the market went from posting its best January since 1997, up 5.7%, to losing 3.7% in February, its first monthly loss in 15 months. February wasn’t only bad Read more […]
It has not been a great start to the week for the technology sector, with large-cap tech stocks dragging down equity indices across the globe. With the current media focus on the industry behemoths, suitably arranged into fun acronyms (“FANGs” and so on), investors in the U.S. tech sector might be concerned about the risks Read more […]
February ended the longest historical monthly winning streak of 15 months for the S&P 500 (TR) that lost 3.7%. On a total return basis for the month, 10 of 11 sectors lost, which has only happened in 12 of 342 months or 3.5% of the time (all 11 lost together in 13 months for a Read more […]
In November 2017, S&P Dow Jones Indices and MSCI announced revisions to the GICS® structure to be implemented in September 2018.[1] These changes are going to affect the consumer discretionary, information technology, and telecommunication services sectors. As a consequence, the Pan Asian internet giants BAT (Baidu, Alibaba, and Tencent) will be reclassified into the communication Read more […]