Editor's Note: Below is an excerpt from today's Morning Newsletter written by Hedgeye U.S. Macro Analyst Christian Drake. Click here to learn more and subscribe.
- March: Seasonality | Performance in Housing related equities shows marked seasonality. In short, the housing complex outperforms from Nov-Feb ahead of the Spring selling season and subsequently underperforms modestly in March as (presumably) some of that cumulated optimism comes off and again in mid-year as the heart of the selling season concludes (see 1st and 2nd charts below). We show the seasonal pattern that has typified the last 20 years in the Chart of the Day.
