US stocks are looking to close out the week on a positive note with the S&P 500 up over 1%. One sector that hasn’t been participating in the rally, however, is Energy. While it just moved back into positive territory for the day, the sector remains at the back of the pack in terms of sector performance. If these levels hold for the remainder of the trading day, it will be the 69th time in the last 200 trading days that Energy has been the worst-performing sector. That works out to more than once every three trading days. Talk about a sector that’s in liquidation mode!
The chart below shows the rolling 200-day total number of days that Energy has been the worst-performing sector in the S&P 500. While the current level of 69 is extremely high, earlier this month the rolling 200-day total was even higher at 71. Over this same period of time, no other sector has even seen close to as many days of ranking at the bottom as Energy. The next closest is Utilities as it has been at the bottom of the pack in terms of performance on 36 of the last 200 trading days. It hasn’t just been the last 200 trading days that have been rough for the Energy sector. Over the last five years, the sector has been the worst-performing sector on just over 23% of all trading days. Is this what it felt like for the horse and buggy companies in the early 1900s or the ice-harvesting companies after the invention of electric refrigeration? Click here to view Bespoke’s premium membership options for our best research available.