Despite reaching new all-time highs on multiple occasions this year, stock gains have been pretty average in 2013, rising 21.8% YTD. As LPL Financial’s Jeff Kleintop wrote earlier this month, the second most common all-time outcome for the S&P500 are returns of 20 — 25%.
Part of that averaging in the face of record highs may stem from stocks that had outperformed the market for most of the year seeing some pretty violent swings this week.
Bespoke Investment pulls the following two charts showing this phenomenon. First, they break down the Russell 1,000 index, which captures about 89% of the stock market, into 10 performance deciles.
At the far left is the top-performing decile. It’s down -2.47% this week:
They then show that YTD performers at the very top have seen some of the greatest declines. We’ve highlighted stocks Business Insider usually covers. Tesla and Best Buy are both off about 11%. Netflix is down almost 3%. First solar has declined more than 5%.
What’s more, this is the second time this has happened this month, Bespoke notes. On Nov. 6, the top 25 stocks on the S&P500 fell an average of -1.31%, while the Dow climbed 130 points.
Quite a year.
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