Courage/Fear Investor Ratio
Source: The Leuthold Group. As of 30/6/21. The Courage/Fear Investor Ratio is developed by The Leuthold Group and shows the relative return of a "Courage Portfolio" over a "Fear Portfolio." The Courage Portfolio averages returns of the Russell 2000 Small Cap Index, MSCI Emerging Markets Index, CRB Raw Industrials Index and S&P 500 cyclical sectors. The Fear Portfolio averages returns for the U.S. Dollar Index, gold prices, S&P 500 Low Volatility Index and 10-year Treasury.
MSCI All Country World Index
Sources: MSCI, RIMES. As of 30/6/21. Data is indexed to 100 on 1/1/87, based on MSCI World Index from 1/1/87-31/12/87, MSCI ACWI gross returns from 1/1/88-31/12/00, and MSCI ACWI net returns thereafter. Shown on a logarithmic scale.
Sources: MSCI, Refinitiv Datastream, Standard & Poor's. As of 30/6/21.
Source: Refinitiv Datastream. As of 30/6/21.