As noted in our prior post, the US has done well recently versus the rest of the world in terms of stock market performance. While the outperformance shows up when looking at major indices like the S&P 500 and the MSCI World, it also shows up in individual stock performance when looking at revenues on a geographical basis.
Over at Bespoke Premium, clients can access our popular International Revenues Database, which shows the percentage of sales that come both inside and outside of the US for stocks in the Russell 1,000 and S&P 500. This morning we calculated the average year to date performance of the stocks in the database that generate all of their revenues inside of the US. As shown below, these "domestics" are up an average of 14.43% in 2012. We also calculated the average year to date performance of the stocks that generate 50% or more of their revenues outside of the US. These "internationals" are up an average of 10.28% year to date.
We also calculated the average performance of the "domestics" and the "internationals" since the market made its low on June 1st. As shown, both groups are up an average of 11.97% during the current rally. So while the "internationals" are lagging for the year, they have kept up during this 3-month run-up, which makes sense given the bounce we've seen in Europe.