Lagging Small-Caps

Small-caps are having a big day today. In fact, that’s one of few areas of the market that is convincingly higher.
But that’s not how it’s been for the past few months. After a spectacular run, small-caps have been feeling the most pain in this market.
This chart shows the Russell 2000 (black line) against the S&P 500 (gold line):

This is a big change from the previous six years. It’s been one long small-cap party. From April 8, 1999 to April 19, 2006, the Russell 2000 gained 94.7% while the S&P 500 lost -2.5%.

Posted by Eddy Elfenbein on July 25th, 2006 at 12:40 pm

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