Reflecting On S&P 500 Annual Returns And Uncorrelated Assets

www.investing.com/analysis/reflecting-on-sp-500-annual-returns-and-uncorrelated-assets-200610465

By Brian Gilmartin | Dec 05, 2021 12:26AM ET

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XAU/USD

-0.07%

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US500

+0.57%

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Gold

-0.07%

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GLD

+0.90%

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S&P 500 Average Annual Returns

Source: Ycharts performance calculator
All returns as of 11/30/21

The above table was prepared for a client dinner last night and the results surprised me.

The 21-year return for the S&P 500 of 7.34% is consistent with long-run return on stocks, but note the last 5–10 years and then note the returns off the lows of March 9, 2009.

This data shocked me.

In personal emails to clients, the concept of “uncorrelated assets” is being discussed. Owning assets like gold (SPDR® Gold Shares (NYSE:GLD)) again, which as of November 30, ’21 had a 10-year return of -0.69% is now part of every client discussion. From 2000 to 2011, the year gold peaked, the GLD returned roughly 18% a year, but that’s a little misleading too, since the GLD ETF wasn’t created until 2005.

I'lll have a longer article on the topic before year-end 2021. Thanks for reading, and take everything you read with a healthy dose of skepticism.

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Central Banks

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Next Meeting

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5.00%

May 03, 2023

ECB

3.50%

May 04, 2023

BOE

4.25%

May 11, 2023

SNB

1.50%

Jun 22, 2023

RBA

3.60%

Apr 04, 2023

BOC

4.50%

Apr 12, 2023

RBNZ

4.75%

May 24, 2023

BOJ

-0.10%

Apr 28, 2023

CBR

7.50%

Apr 28, 2023

RBI

6.50%

Apr 03, 2023

PBOC

3.65%

BCB

13.75%

May 03, 2023

US 30	32,934.4	+75.4	+0.23%
US 500	4,064.0	+13.2	+0.33%
Dow Jones	32,859.03	+141.43	+0.43%
S&P 500	4,050.83	+23.02	+0.57%
Nasdaq	12,013.47	+87.24	+0.73%
S&P 500 VIX	19.02	-0.10	-0.52%
Dollar Index	101.890	+0.043	+0.04%

Crude Oil WTI	74.45	+0.08	+0.11%
Brent Oil	78.63	+0.10	+0.13%
Natural Gas	2.105	+0.002	+0.10%
Gold	1,996.30	-1.40	-0.07%
Silver	24.003	+0.014	+0.06%
Copper	4.1063	-0.0052	-0.13%
US Soybeans	1,475.25	+0.75	+0.05%

U.S. 10Y	3.560	+0.009	+0.26%
U.S. 30Y	3.744	-0.002	-0.04%
U.S. 5Y	3.6836	+0.0210	+0.56%
U.S. 3M	4.8998	+0.0860	+1.78%
US 10Y T-Note	114.48	-0.09	-0.08%
Euro Bund	135.30	-0.07	-0.05%
10-2 Yield Spread	-53.71	-2.44	4.76%

Apple	162.36	+1.59	+0.99%
Alphabet A	100.89	-0.50	-0.49%
Tesla	195.28	+1.40	+0.72%
Amazon.com	102.00	+1.75	+1.75%
Netflix	338.43	+6.40	+1.93%
Meta Platforms	207.84	+2.49	+1.21%
Bank of America	28.30	-0.37	-1.29%

Reflecting On S&P 500 Annual Returns And Uncorrelated Assets

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