If you follow Business Insider much, you’re always seeing charts from FRED, the econ repository from the St. Louis Fed.
Anyway, the site not only just did a redesign — making it look a bit more like a pro finance site — it also added some more market data, specifically the Dow sub-indices (Dow Transports and Dow Industrials).
Fans of Dow Theory (using the various Dow indices to gauge market strength) will have a field day with this.
But we were able to whip up some interesting charts right on the fly.
The first compares the Dow Transports and oil prices. Theoretically, high oil prices are a drag on transportation companies.
The truth, as you can see from the chart… not so much. Maybe at one point that was true, and for short swings you might see an effect, but the last time it looked like Transports and Crude really traded divergently was in the mid 90s. Since then, they’ve moved together based on the economy.
And the next chart compares utilities — which people mainly buy for dividends — and 10-year Treasury yields.
Here you can see some of that classic divergence — when yields go up, utilities go down, since they look less impressive in comparison — but then it’s also obvious that utilities for the most part go in the general direction of the market.
Finally, here are the industrials, transports, and utilities since 1980