Copper Miners COPX Jumped 3.89%

Tuesday delivered hard-asset leadership. Copper Miners COPX led, and leadership concentrated in hard assets.

Copper miners and Korea led, energy lagged

Movers

Leaders: Copper Miners COPX +3.89% (3M: +0.7%), South Korea EWY +3.10% (3M: +9.2%)

Laggards: Energy XLE -2.05% (3M: +17.0%), Consumer Staples XLP -0.92% (3M: +0.4%)

3M Leaderboard

Strong: Taiwan EWT +20.0%, Energy XLE +17.0%, Technology XLK +13.9%

Weak: China MCHI -10.9%, China Large Cap FXI -10.0%, Real Estate XLRE -6.9%

DAILY · 3M

Credit led, duration lagged

Movers

Leaders: High Yield Bonds JNK +0.59% (3M: -0.6%), High Yield HYG +0.52% (3M: -0.6%)

Laggards: Long Treasuries TLT -0.06% (3M: -0.3%), 3-7yr Treasuries IEI -0.03% (3M: -0.7%)

3M Leaderboard (within FI scale)

Strong: Short TIPS VTIP +0.1%, Short Corporate VCSH unch., Long Treasuries TLT -0.3%

Weak: Preferred Stock PFF -2.8%, EM Sovereign Bonds EMB -1.5%, 7-10yr Treasuries IEF -1.2%

DAILY · 3M

Uptrend leaders rallied, real estate lagged

Movers

Leaders: Semiconductors SMH +3.02% (3M: +10.7%), Gold Miners GDX +2.68% (3M: +13.1%)

Laggards: Real Estate VNQ -0.84% (3M: -7.4%), Global REITs REET -0.49% (3M: -8.1%)

3M Leaderboard

Strong: Bitcoin Trust IBIT +26.9%, Ethereum Trust ETHA +24.1%, Gold Miners GDX +13.1%

Weak: Global REITs REET -8.1%, Real Estate VNQ -7.4%, Clean Energy ICLN -6.0%

DAILY · 3M

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Romain Gandon
CEO, Quantlake

Disclaimer: This article is for informational and educational purposes only and does not constitute investment advice. Past performance is not indicative of future results.