Water stocks pay the price of safety
- From: Vol 10, Issue 6 (June 2009)
- Category: General
- Region: Americas
- Country: United States
- Related Companies: American Water, Energy Recovery Inc and RWE
Having enjoyed a period of relative out-performance until March this year, the water sector has been lagging behind the broader stock exchange during the past three months.
Water stocks lagged behind the rest of the market in the month 10th May - 10th June, continuing the trend of the previous two months. The implication is that water stocks are defensive: they out-perform the market during a downturn, but underperform as the broader market recovers. The MSCI World Index denominated in dollars has rebounded 48% since its low on ...
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