Market Metrics and Trends

Monthly Metrics

Volatility (VIX): Monthly average 12.68; -2.9% M/M, -9.4% Y/Y
S&P 500 (Price): Monthly average 5,415.14; +3.4% M/M, +24.6% Y/Y
Performance (month/year): best = tech/ tech +9.3%/+27.8%; worst = utilities/real estate -5.8%/-4.1%
Equity ADV: Monthly average 11.9 billion shares; -4.6% M/M, +5.4% Y/Y
Options ADV: Monthly average 46.6 million contracts; +7.8% M/M, +4.3% Y/Y

Monthly Highlight

As we close out the first half of the year, we thought it would be interesting to look at the performance of the S&P 500 across different characteristics. Putting this altogether, you can see the tech – more specifically the AI – trade in action.
Market cap (SPX) weighted leads equal weighted (SPW) – the top 10 stocks represent around 35% of the index, and these are all part of the tech trade. YTD, SPX is up 14.5%, outperforming SPW by 10.4 pps (SPW +4.1%).
Growth (SGX) leads value (SVX) in YTD performance – these tech companies are growth stocks. YTD, the SGX is up 23.1%, outperforming the SVX by 18.6 pps (SVX +4.6%).
Large cap leads the way – tech companies are large caps, 6/10 stocks with market cap >$1T. YTD, SPX outperformed MID by 9.1 pps & SML by 16.1 pps (MID +5.3%, SML -1.6%). MID outperformed SML by 7.0 pps

Featured Charts

Katie Kolchin, CFA
Managing Director, Head of Research
SIFMA Insights

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