Not Your Run Of The Mill Sell-Off

Includes: IVV, SPY, VOO
by: Bespoke Investment Group

The average stock in the S&P 500 is down 4.34% since the index made an all-time closing high on May 21st. Typically during market pullbacks, the stocks that went up the most during the preceding rally end up getting hit the hardest.

That hasn't been the case during this pullback, however. We broke the S&P 500 into deciles (10 groups of 50 stocks each) based on 2013 YTD stock performance through 5/21. We then calculated the average performance of the stocks in each decile since the 5/21 market peak.

As shown in the chart below, the 50 stocks in decile 1, which is made up of the stocks that were up the most YTD through 5/21, are only down an average of 3.5% since then. That makes it the best performing decile of the group during this pullback, so 2013's big winners have not gotten hit as hard as other stocks in the index.