Global Multi-Asset Investment Strategist, True Insights

Jeroen Blokland

All-round Multi-Asset investor. Former head of a EUR 5 billion multi-asset fund range. Speaker. Charts & Frameworks. Founder of True Insights, a provider of independent investment research, trade ideas & well-diversified portfolios.
https://true-insights.net/

Global Multi-Asset Investment Strategist

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True Insights

Our research helps investors build well-diversified multi-asset portfolios and profit from market developments. In addition, our unique and proven Macro – Sentiment – Valuation (MSV) investment framework ensures a consistent flow of new investment opportunities. Together with our market views, these opportunities will be reflected in our live ETF-based Global Multi-Asset Portfolios.

Thematic (Sector/Industry)

United states Real estate / Thematic (Sector/Industry)

<ul>
<li>First and foremost, we are not positive about US homebuilders due to the sharp decline in housing market activity caused by the significantly increased mortgage rates.</li>
<li>The correlation between the future performance of the S&amp;P 500 Homebuilding Index relative to the broad S&amp;P 500 Index and the level of the NAHB Market Index is ZERO.</li>
<li>In addition, there is no correlation between the performance of US homebuilders and CHANGES in the NAHB Market Index.</li>
</ul>


First and foremost, we are not positive about US homebuilders due to the sharp decline in housing market activity caused by the significantly increased mortgage rates.
The correlation between the future performance of the S&amp;P 500 Homebuilding Index relative to the broad S&amp;P 500 Index and the level of the NAHB Market Index is ZERO.
In addition, there is no correlation between the performance of US homebuilders and CHANGES in the NAHB Market Index.


Homebuilder Sentiment Is Fun for MACRO Tourists, Not for Predicting Returns