Style, Market Cap Results - Bull-Market-To-Date (a surprising winner)
It’s been a while since we last looked at how the different market caps (micro through large) and styles (value and growth) have performed. Since there’s so much valuable data in knowing which arena is leading or lagging though [indeed, the cap, style, and sector is suggested to be worth 50% of a stock’s movement], we do want to take some time and recap those results today.
First though, let’s go back to the beginning…. back to what we can now safely say was the bear-market bottom and the beginning of the recovery.
The chart immediately below scores how each market cap and style index has performed since March 6th of last year. The winner? Micro caps, with a 95% gain. That, by the way, is the reason we remain focused on the group - these tiny companies are also the biggest opportunities when things are going even just moderately well. Take a look.

The loser has been large cap growth, with large cap value not too far ahead. Value, in general, has been stronger than growth.
That said, are any new trends emerging on the cap/style front? An updated version of the same chart will tell us. So, the next chart shows the same indices, but with the clock starting in November….. long enough to spot new trends, but not so long that we’ve missed the bulk of any new ones.
In a nutshell, no, things are still pretty much proceeding as they have been. Value is still outperforming growth, large caps are still lagging, and smaller companies are still in the lead. The only major switch between then and now isn’t even all that major…. micro caps have cooled off a bit since then. On the other hand, they deserved a break, and they’re still doing well.

As before, we’ll update these charts when merited.
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