Industry cases
What did one industry do in a given week, and what would that week mean for a decision maker with a fixed rule?
Each card takes one real week of one of 24 US stock-market industries and one decision an illustrative decision maker faces that week. The figures are the industry's returns, the market's return and measures computed from them; the cards separate what those figures show from what they cannot show.
7,979 cards across 24 industries
- Aircraft, ships and railroad equipmentA 1.79-point lag in aircraft, ships and rail equipment during a calm week
- ApparelA 22nd-of-24 apparel week tests whether one ranked return can count as a usable signal
- Automobiles and trucksAn automobiles and trucks holding 22.5% below its high meets a review rule after a 3.76% fall
- Banking, insurance, real estate and tradingA 1.77% fall in banking, insurance and real estate in a calm week tests a routine review
- Business equipmentEqual-weight business equipment fund trails its benchmark by 3.29 points in a 0.53% week
- Business supplies and shipping containersA long-short fund's shipping-container leg trails the market by 2.68 points in a calm week
- ChemicalsA calm chemicals week trails the market by 1.32 points inside a weekly limit review
- CommunicationAn equal-weight communication fund trails its benchmark by 4.89 points as large firms lead
- Construction and construction materialsA 23rd-of-24 construction week tests whether a ranking rule may stay untuned
- Consumer goodsA consumer goods long-short leg gains 2.00 points while volatility stays at its usual level
- Electrical equipmentA mandatory review of electrical equipment, 23.83% below its high, after a 1.16% weekly fall
- Food productsA quiet-week limit review for a food products holding that trailed the market by 1.49 points
- Healthcare, medical equipment and drugsA healthcare long-short leg trails the market by 3.10 points as volatility runs 1.4 times usual
- Personal and business servicesA long-short leg in personal and business services leads by 3.12 points at its 52-week high
- Petroleum and natural gasA long-short oil position falls 2.90 points behind the market after an 8.19% run-up
- Precious metals and metal miningA long-short fund's mining leg trails the market by 2.32 points after a 23.57% prior rally
- Printing and publishingA second-place printing and publishing week tempts a signal test to claim a win too early
- Recreation and entertainmentA recreation holding 23.51% below its high meets a review rule after a flat, calm week
- Restaurants, hotels and motelsA long restaurants, hotels and motels leg lags the market by 1.43 points at near-usual risk
- RetailAn equal-weight retail fund trails its benchmark by 2.78 points as large firms outpace the average
- Steel worksA steel long-short leg trails the market by 7.47 points as volatility runs 1.7 times usual
- TransportationA transport fund's equal-weight design leads its benchmark by 2.61 points in a market-matching week
- UtilitiesA utilities long leg's 2.22-point lead over the market tempts a larger position in a calm week
- WholesaleA wholesale long-short leg lags the market by 0.62 points in a calmer-than-usual week
Research notes on real weeks of US industry portfolios, not investment advice. Source: Kenneth R. French Data Library (Fama–French 30 industry portfolios, daily returns), computed by RISCON Labs.