Market RegimeRisk-OnScore 6 / 11
Impact on this model: Leadership rotations are reliable — leading quadrants typically extend and laggards keep underperforming. Trust the RRG.
Leading Markets — Global Market Leadership vs ACWI
Markets ranked by relative strength vs MSCI ACWI. The RRG column places each one in a quadrant of the Relative Rotation Graph:
- Leading — strong and accelerating.
- Weakening — strong but losing momentum.
- Lagging — weak and decelerating.
- Improving — weak but accelerating. Early signal.
In short: a market in Leading is currently outperforming the world index and still picking up speed. The objective of the board is to stay invested in confirmed leaders and rotate out as they shift into Weakening — letting global money flow, not opinion, decide where capital sits.
Refreshes automatically each day after the US close. Tip: click any market in the table below to open its full price chart with RRG context in a new tab.
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Ranked by Leaders · 60 markets
| # | Market | Momentum | RSI (14) | RRG | Alpha vs ACWI | Type | RS 1W | RS 1M | RS 3M | RS 6M | RS YTD | RS 1Y | RS 2Y |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | EPOL · Poland — MSCI Poland | 67 | 70.2 | Leading6d | +3.3% | Country | +3.29 | +10.50 | +8.53 | +5.10 | +11.34 | +16.86 | +58.95 |
| 2 | ★EWS · Singapore — MSCI Singapore | 94 | 66.7 | Leading17d | +3.3% | Country | +0.61 | +8.49 | +9.50 | +6.66 | +8.18 | +4.18 | +36.93 |
| 3 | ★EWP · Spain — MSCI Spain | 100 | 62.1 | Leading1mo | +2.9% | Country | +1.58 | +4.06 | +6.33 | +3.50 | +4.59 | +20.14 | +64.69 |
| 4 | ★XLF · US Financials — XLF | 92 | 62.3 | Leading20d | +2.4% | Sector | -0.26 | +3.74 | +5.71 | -0.07 | -6.41 | -11.88 | -7.92 |
| 5 | ★EWI · Italy — MSCI Italy | 98 | 60.1 | Leading1mo | +3.2% | Country | +1.05 | +3.98 | +4.86 | +4.51 | +4.34 | +7.92 | +38.32 |
| 6 | ★IWD · Russell 1000 Value — IWD | 101 | 63.7 | Leading1mo | +3.2% | Style | +0.06 | +3.06 | +5.34 | +7.81 | +9.28 | +8.27 | -0.25 |
| 7 | ★EWU · United Kingdom — MSCI UK | 73 | 65.2 | Leading3d | -1.5% | Country | +1.12 | +5.18 | +0.25 | -1.59 | +0.37 | +3.40 | +2.19 |
| 8 | ★XLV · US Health Care — XLV | 80 | 55.1 | Leading1mo | -0.9% | Sector | -1.39 | +1.69 | +7.94 | -0.75 | -5.37 | +1.64 | -32.76 |
| 9 | ★EWQ · France — MSCI France | 85 | 62.0 | Leading2d | -0.3% | Country | +2.18 | +3.34 | +1.25 | -3.31 | -5.34 | -8.81 | -12.19 |
| 10 | ★VGK · FTSE Developed Europe | 89 | 60.2 | Leading5d | +0.8% | Region | +1.09 | +3.01 | +1.48 | -2.87 | -0.94 | +0.45 | -0.18 |
| 11 | ★ARGT · Argentina — MSCI Argentina | 77 | 54.4 | Leading1d | +0.0% | Country | +0.78 | +4.24 | +0.91 | -13.21 | -6.81 | -6.73 | +31.64 |
| 12 | ★EZU · MSCI Eurozone | 97 | 57.6 | Leading1mo | +1.6% | Region | +1.03 | +1.59 | +2.40 | -1.96 | -0.80 | -0.04 | +8.66 |
| 13 | ★EFA · MSCI EAFE (Developed ex-US) | 95 | 57.8 | Leading4d | +0.4% | Region | +0.72 | +2.29 | +0.92 | -1.86 | +0.41 | +1.82 | -0.10 |
| 14 | ★EWL · Switzerland — MSCI Switzerland | 95 | 54.1 | Leading13d | +0.4% | Country | +0.34 | +0.86 | +0.84 | -4.02 | -4.08 | -1.42 | -13.32 |
| 15 | ★THD · Thailand — MSCI Thailand | 95 | 55.6 | Leading7d | -0.5% | Country | -1.09 | +2.40 | +1.83 | +9.58 | +14.01 | +11.50 | -5.33 |
| 16 | ★DIA · Dow Jones Industrial Average — DIA | 103 | 54.7 | Leading1mo | -0.1% | Cap | -0.31 | +0.20 | +2.05 | +0.43 | -1.33 | -1.94 | -9.93 |
| 17 | ★QUAL · US Quality (MSCI USA) — QUAL | 101 | 56.1 | Leading1mo | +0.3% | Style | -0.22 | +0.01 | +2.12 | +0.22 | -0.42 | -2.11 | -12.32 |
| 18 | ★USMV · US Low Volatility (MSCI USA) — USMV | 89 | 58.4 | Leading6d | -0.4% | Style | -0.37 | +0.87 | -0.10 | -3.14 | -6.52 | -15.08 | -28.01 |
| 19 | ★EWC · Canada — MSCI Canada | 88 | 55.4 | Leading3d | -2.4% | Country | -0.84 | +2.78 | -2.07 | -1.77 | -0.64 | +8.19 | +17.37 |
| 20 | ★XLP · US Consumer Staples — XLP | 59 | 51.6 | Leading2d | -1.0% | Sector | -0.29 | +1.90 | -2.32 | -2.46 | -0.41 | -12.98 | -29.97 |
| 21 | ★URTH · MSCI World (Developed Markets) | 89 | 54.1 | Leading9d | +0.0% | Region | -0.14 | +0.44 | +0.26 | -0.02 | -1.07 | -1.71 | -1.88 |
| 22 | ★IVE · S&P 500 Value — IVE | 96 | 55.5 | Leading9d | +0.4% | Style | -1.23 | +1.53 | +0.11 | +0.43 | -1.18 | -2.88 | -17.14 |
| 23 | ★IWN · Russell 2000 Value — IWN | 86 | 52.8 | Leading1mo | +0.4% | Style | -1.46 | -0.41 | +2.98 | +6.35 | +11.59 | +17.10 | -6.00 |
| 24 | ★IJR · S&P 600 Smallcap — IJR | 102 | 52.6 | Leading1mo | +0.6% | Cap | -0.97 | -1.61 | +2.52 | +6.96 | +10.32 | +10.49 | -13.28 |
| 25 | ★SPY · S&P 500 — SPY | 85 | 53.1 | Leading5d | -0.1% | Cap | -0.28 | -0.03 | +0.32 | +0.88 | -1.15 | -2.56 | -3.21 |
| 26 | ★XLRE · US Real Estate — XLRE | 70 | 50.8 | Leading7d | -1.1% | Sector | -3.30 | +1.82 | -1.50 | +3.31 | +2.16 | -10.99 | -28.83 |
| 27 | ★MDY · S&P 400 Midcap — MDY | 75 | 48.4 | Leading1mo | -2.1% | Cap | -2.02 | -1.74 | -0.31 | +1.61 | +3.05 | -2.38 | -17.08 |
| 28 | ★XLI · US Industrials — XLI | 75 | 49.8 | Leading1mo | -2.4% | Sector | -2.92 | -2.12 | -0.63 | +1.68 | +5.27 | -1.77 | +3.22 |
| 29 | XLE · US Energy — XLE | 65 | 63.6 | Improving | — | Sector | -1.50 | +12.56 | -3.35 | +12.20 | +23.75 | +18.46 | -4.23 |
| 30 | EWD · Sweden — MSCI Sweden | 68 | 63.9 | Improving | — | Country | +2.49 | +5.22 | -0.24 | -7.07 | -2.42 | +0.20 | -2.78 |
| 31 | MCHI · China — MSCI China | 64 | 65.1 | Improving | — | Country | +3.25 | +8.09 | -6.33 | -19.87 | -17.77 | -23.39 | -1.17 |
| 32 | EWG · Germany — MSCI Germany | 66 | 63.1 | Improving | — | Country | +2.83 | +3.78 | -0.47 | -6.70 | -8.43 | -16.61 | +2.38 |
| 33 | EWH · Hong Kong — MSCI Hong Kong | 57 | 68.3 | Improving | — | Country | +0.97 | +9.39 | -5.02 | -8.45 | -0.91 | -6.01 | +21.59 |
| 34 | EWA · Australia — MSCI Australia | 72 | 58.5 | Improving | — | Country | +0.78 | +5.72 | -3.01 | -2.64 | +2.32 | -5.89 | -16.15 |
| 35 | ILF · S&P Latin America 40 | 74 | 59.2 | Improving | — | Region | +0.73 | +5.26 | -5.60 | -9.64 | +6.36 | +24.79 | +16.94 |
| 36 | INDA · India — MSCI India | 71 | 58.9 | Improving | — | Country | +2.33 | +1.00 | -3.13 | -10.83 | -19.14 | -27.11 | -55.71 |
| 37 | EWZ · Brazil — MSCI Brazil | 69 | 59.7 | Improving | — | Country | +1.19 | +7.03 | -10.70 | -10.27 | +5.18 | +20.86 | +5.08 |
| 38 | EWM · Malaysia — MSCI Malaysia | 69 | 56.3 | Improving | — | Country | +0.25 | +5.13 | -6.31 | -9.40 | -6.52 | +0.54 | -16.10 |
| 39 | XLY · US Consumer Discretionary — XLY | 65 | 54.4 | Improving | — | Sector | +4.73 | -1.89 | -5.61 | -11.15 | -13.67 | -16.77 | -14.96 |
| 40 | EWW · Mexico — MSCI Mexico | 71 | 55.0 | Improving | — | Country | +0.42 | +1.85 | -1.93 | -7.98 | +1.14 | +10.41 | +7.20 |
| 41 | EZA · South Africa — MSCI South Africa | 70 | 52.1 | Improving | — | Country | +2.80 | +1.22 | -8.60 | -25.63 | -16.78 | +5.40 | +19.98 |
| 42 | EIDO · Indonesia — MSCI Indonesia | 66 | 53.6 | Improving | — | Country | -0.48 | +9.46 | -19.48 | -35.64 | -43.88 | -49.22 | -78.32 |
| 43 | XLC · US Communication Services — XLC | 48 | 46.2 | Improving | — | Sector | +0.44 | -1.57 | -10.75 | -16.44 | -18.80 | -18.65 | -15.39 |
| 44 | XLB · US Materials — XLB | 49 | 45.6 | Improving | — | Sector | -3.00 | -1.35 | -5.55 | -5.64 | +0.84 | -6.02 | -29.93 |
| 45 | XLU · US Utilities — XLU | 46 | 40.7 | Improving | — | Sector | -5.57 | -1.14 | -8.63 | -3.60 | -5.99 | -14.61 | -17.37 |
| 46 | TUR · Turkey — MSCI Turkey | 46 | 41.2 | Improving | — | Country | -4.19 | -3.03 | -13.22 | -14.67 | +0.66 | -5.97 | -49.49 |
| 47 | EWJ · Japan — MSCI Japan | 83 | 51.0 | Lagging | — | Country | -0.09 | -0.91 | +0.36 | +0.58 | +3.77 | +8.66 | +2.03 |
| 48 | IVW · S&P 500 Growth — IVW | 78 | 51.4 | Lagging | — | Style | +0.44 | -1.39 | +0.38 | +1.11 | -1.35 | -2.51 | +8.34 |
| 49 | EWN · Netherlands — MSCI Netherlands | 88 | 49.0 | Weakening | — | Country | -0.87 | -2.37 | +3.70 | -1.03 | +7.04 | +12.59 | +5.58 |
| 50 | IWM · Russell 2000 — IWM | 76 | 47.0 | Weakening | — | Cap | -1.37 | -2.91 | +1.11 | +3.70 | +7.51 | +11.19 | -6.63 |
| 51 | XLK · US Technology — XLK | 73 | 46.3 | Lagging | — | Sector | -1.68 | -5.73 | +6.17 | +12.36 | +10.82 | +11.59 | +24.48 |
| 52 | IWO · Russell 2000 Growth — IWO | 63 | 44.5 | Weakening | — | Style | -1.26 | -5.42 | -0.78 | +0.97 | +3.65 | +5.56 | -7.58 |
| 53 | EEM · MSCI Emerging Markets | 68 | 47.3 | Lagging | — | Region | -0.18 | -3.79 | -3.22 | -0.74 | +6.48 | +12.19 | +14.95 |
| 54 | QQQ · Nasdaq 100 — QQQ | 72 | 45.1 | Lagging | — | Cap | -0.83 | -5.33 | -0.75 | +2.24 | +0.98 | +0.10 | +7.21 |
| 55 | IWF · Russell 1000 Growth — IWF | 61 | 45.8 | Lagging | — | Style | -0.81 | -4.02 | -4.61 | -6.33 | -11.11 | -13.70 | -8.35 |
| 56 | AAXJ · MSCI Asia ex-Japan | 68 | 46.4 | Lagging | — | Region | -0.60 | -4.63 | -2.76 | +1.34 | +8.05 | +11.81 | +17.72 |
| 57 | EWT · Taiwan — MSCI Taiwan | 79 | 45.7 | Weakening | — | Country | -2.87 | -8.85 | +3.52 | +30.94 | +40.70 | +51.46 | +57.50 |
| 58 | MTUM · US Momentum (MSCI USA) — MTUM | 57 | 44.4 | Lagging | — | Style | -3.60 | -8.89 | +1.72 | +7.64 | +8.65 | +3.41 | +20.07 |
| 59 | VNM · Vietnam — MV Index Vietnam | 59 | 44.3 | Lagging | — | Country | +1.78 | -8.56 | -13.77 | -17.05 | -22.28 | -15.46 | +1.27 |
| 60 | EWY · South Korea — MSCI South Korea | 26 | 42.0 | Lagging | — | Country | -4.98 | -15.51 | -6.17 | +18.86 | +50.31 | +96.40 | +107.76 |
Disclaimer · Read before acting on the board
Relative-strength leadership is a starting point, not a complete thesis. Before buying a leader, ask what is driving it — when several markets lead at once, they are often the same macro bet expressed multiple times. Open the chart and confirm a clean clockwise rotation through Improving → Leading carries more weight than a fresh print just above the 100 line.
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