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ETF Market Summary: Week Ending August 17th, 2007

Posted August 19th, 2007 by Michael J Bomma...

    Volatility has been the word of the month, and though last week saw much of it, the market ended overall much further to the downside. 

    For the week, only 5 of 26 categories ended up, with only short and convertible funds ending the week up more than 1%.  Of the 21 categories that were down, 17 were down more than 1%, 15 were down more than 2%, 9 were down more than 3%, and 4 were down more than 5%. 

    For the month now, only short funds are up, with the remaining funds down on average 8.5%. 

    As far as the week's correlations go, other than short funds, only commodity, municipal, and infrastructure funds had S&P correlations below 50%.

    Dollar-Weighted Category Return

Category Day Week Month YTD Week Correlation to SPY
Latin America 4.55% -7.14% -16.92% 3.65% 79.20%
Infrastructure 4.30% -5.97% -15.80% -1.60% 37.61%
Asia 2.84% -5.52% -13.36% 0.37% 69.26%
Call/Write 6.24% -5.32% -10.54% -2.00% 76.27%
China 4.02% -4.60% -10.03% 1.11% 69.17%
Emerging Markets 3.20% -4.20% -12.69% 0.48% 75.44%
Commodities & Resources 0.71% -4.19% -6.51% 0.20% 17.87%
Transports 2.14% -3.87% -10.88% 2.64% 93.03%
Russia 5.85% -3.28% -11.00% -8.91% 76.47%
Retail 1.33% -2.86% -8.36% -0.99% 94.90%
Currency 0.75% -2.84% -4.21% 0.44% 64.00%
MSCI 0.92% -2.62% -9.45% 1.51% 86.31%
Japan -0.71% -2.29% -6.92% -0.55% 63.06%
Europe 2.17% -2.20% -9.36% 0.12% 79.47%
Consumer Goods & Services 0.68% -2.05% -7.89% -0.24% 79.48%
Mid Cap 2.10% -1.21% -8.24% 0.16% 86.10%
Utilities 1.06% -1.15% -5.17% 0.41% 79.57%
Large Cap 1.56% -0.80% -5.86% 0.21% 92.21%
Healthcare 0.42% -0.72% -4.20% 0.17% 65.21%
Energy 3.66% -0.46% -8.86% 1.17% 67.08%
Real Estate 2.69% -0.31% -7.18% -0.59% 85.25%
Biotech 1.16% 0.38% -2.58% -0.30% 53.28%
Small Cap 2.00% 0.39% -5.83% 0.02% 81.38%
Dividend 2.46% 0.64% -4.14% -0.09% 86.57%
Convertible 11.22% 1.60% -7.99% -1.45% 75.41%
Short -3.59% 1.89% 13.88% -0.88% -90.26%