| Factor | Return | Z-Score | 5d Z | 20d Z | 63d Z | Category | Direction |
|---|---|---|---|---|---|---|---|
| Retail+International | -0.21% | z=-1.21 | 1.12 | 0.55 | 0.78 | Style | underperform |
| Semis | +0.41% | z=0.75 | 1.69 | 1.71 | 2.73 | Theme | outperform |
| Momentum | +0.54% | z=0.70 | -0.12 | 0.24 | 1.05 | Style | trend |
| Oil | +0.41% | z=0.63 | 0.88 | -0.58 | 0.22 | Theme | outperform |
The dominant signal in the cross-section remains the Semis factor, extending a 63-day trend (z_63d=2.73). The daily move of z=0.75 continues this regime, with high-exposure names outperforming across all horizons due to AI and data center infrastructure demand.Economic Times Marvell Technology (MRVL) paced the group, rising +13.17% on the session, with +1.51% of that gain arriving in the last hour. IPG Photonics (IPGP) is up +9.52%, on volume 1.86× the typical pace.
| Bucket | Ret 1D Pct | Ret 5D Norm Pct | Ret 20D Norm Pct | Ret 63D Norm Pct |
|---|---|---|---|---|
| 1 | -0.29 | -0.09 | 0.37 | -0.27 |
| 2 | -0.22 | 0.48 | 0.56 | 0.31 |
| 3 | -0.62 | -0.14 | 0.69 | 0.60 |
| 4 | -0.55 | 0.93 | 0.70 | -0.22 |
| 5 | -0.21 | 0.90 | 0.63 | -0.36 |
| 6 | -0.36 | 0.49 | 1.00 | 0.41 |
| 7 | -0.71 | 0.39 | 0.45 | -0.22 |
| 8 | -0.24 | 0.25 | 0.61 | -0.13 |
| 9 | -0.55 | 0.25 | 0.69 | -0.17 |
| 10 | 0.08 | -0.13 | -0.05 | -0.68 |
| 11 | -0.39 | 0.54 | 0.35 | 0.59 |
| 12 | -0.20 | 0.31 | 0.52 | 0.71 |
| 13 | 0.26 | -0.51 | -0.04 | 0.15 |
| 14 | 0.31 | -0.26 | -0.12 | -0.12 |
| 15 | -0.29 | -0.08 | 0.41 | 0.84 |
| 16 | -0.31 | 0.77 | 0.48 | 0.68 |
| 17 | -0.21 | 1.56 | 1.52 | 1.54 |
| 18 | -0.13 | 1.20 | 1.49 | 2.14 |
| 19 | 0.13 | 1.91 | 2.71 | 3.65 |
| 20 | 1.01 | 2.15 | 4.58 | 5.62 |
Alternative asset managers fell as Partners Group capped withdrawals on an evergreen private equity fund, sparking liquidity concerns across illiquid assets.Financial Times Markets recalibrated risk premiums for managers exposed to software-heavy debt tranches, driving Blackstone (BX) down -5.53%.The Wall Street Journal Ares Management (ARES) dropped -6.08%, with a -4.30% loss extending over the last hour on 1.73× normal volume.
| ETF | Theme | Today | 5d | 20d | 63d |
|---|---|---|---|---|---|
| SMH | semiconductors | +1.36% | +4.99% | +24.75% | +61.67% |
| USO | oil | +2.16% | +0.20% | -7.00% | +52.18% |
| BXSL | loans of private companies | -0.63% | +0.30% | -3.92% | -2.38% |
| IGV | software | -0.73% | +11.36% | +18.42% | +24.50% |
| KWEB | china | -2.16% | +3.93% | -0.91% | -4.96% |
Middle East tensions dragged headline equity indices lower while lifting the energy complex. The Oil factor ran at z=0.63 as crude futures jumped amid supply chain threats. Physical market tightness lifted the SPDR Oil & Gas Exploration ETF (XOP) +0.89% and the United States Oil Fund (USO) +2.16%.Economic Times The implied inflationary pressure pushed the 10-Year Treasury yield up 4 basis points to 4.48%.CNBC
The Retail+International factor logged the session's lowest signal at z=-1.21. Weakness concentrated among China ADRs as capital rotated out of offshore internet giants and back toward mainland onshore listings. The KraneShares CSI China Internet ETF (KWEB) fell -2.16%, dragging down heavily weighted components Alibaba and JD.com.
| Sym | Theme | Ret Today Pct | Vol Pace |
|---|---|---|---|
| KWEB | international | -2.22 | 0.03 |
| FXI | international | -1.42 | 0.03 |
| IGV | cyclical | -1.13 | 0.10 |
| SLV | currency | -1.07 | 0.25 |
| GDX | currency | -0.93 | 0.03 |
| BXSL | credit | -0.63 | 0.07 |
| GLD | currency | -0.59 | 0.18 |
| IWM | size | -0.38 | 0.08 |
| TLT | rates | -0.37 | 0.05 |
| ARKK | retail + growth | -0.34 | 0.06 |
| DIA | size | -0.30 | 0.05 |
| EWY | international | -0.11 | 0.30 |
| QQQ | growth | 0.22 | 0.13 |
| XLE | cyclical | 0.79 | 0.04 |
| EWJ | international | 0.91 | 0.03 |
| XOP | energy + cyclical | 0.92 | 0.03 |
| SMH | technology | 1.33 | 0.12 |
| USO | energy + cyclical | 2.33 | 0.45 |
April private payrolls rose by 109,000, beating expectations and establishing a firm baseline ahead of official Bureau of Labor Statistics data, as CNBC reported. Consensus forecasts an ISM Services PMI expansion above 52.0. However, unexpected increases in the Prices Paid sub-index risk reinforcing the higher-for-longer yield narrative keeping the 10-Year elevated.
Data compiled by FactorPulse AI; edited and verified by Jeff Klein. For informational purposes only. Does not constitute financial advice, an investment recommendation, or an offer to buy or sell any securities. Always consult a qualified financial professional before making investment decisions.
For more on factor construction methodology, see www.factorpulse.com/glossary.