Group Destruction:

The materials have been out of favor for a couple years now, and the weakness is flooding into 2020 as the XLB is lower by nearly 21%. It is the 9th best major S&P sector actor YTD, and in 2018 it was 10th, and in 2019 it was the ninth best sector performer too. There are an abundance of stocks that one can point too for witnessing the carnage. AA is lower by 71% off most recent 52 week highs, and now trades in single digits. X, is lower 12 of the last 13 weeks, and off by 72% from its yearly peak, not a typo. DOW a recent spinoff to create shareholder value, is now trading as if a 2:1 split occurred, down 49% from its highs. Perhaps below is a chart best illustrating the groups mournful status. BASF, one of the worlds largest diversified chemicals play is now 36% off its most recent 52 week highs, and now sports a near devilish dividend yield of 6.6%. It operates in more than 80 countries around the world, giving it a genuine read on what the strength of global, regional economies are.

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