What immediately stands out is how the precious metal miner ETFs have migrated to the top of the table. This points to a pronounced increase in relative strength as equity markets have sold off.
You can see how all these ETFs have transitioned to a darker green in recent weeks.
It's no surprise to see these ETFs outperform the market in periods where gold is also outperforming.
Tracking the ratio of Gold relative to stocks, this ratio tends to exhibit strong upward spikes, followed by prolonged periods of downward of sideways action. Right now, this ratio is experiencing yet another spike as stocks sell off.
Whether or not this trend favoring precious metal stocks is sustainable is yet to be seen, as of yet. But in either case, to top the ETF Power Rankings is no small accomplishment; there is serious relative strength here.
