BASIC MATERIAL VS OIL PRODUCERS The basic-materials-producers-to-oil-producers ratio has most likely made a bottom 1 standard deviation below its long-term trend. From this level, while reaching the ratio's long-term trend would imply a 26% outperformance for basic materials producers, overshooting to reach +1σ would bring this outperformance to 55% outperformance. Likely a good time to rebalance. $IYM and $XLE used as proxies.
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