Stocks 2020: Technology and Consumer Cyclical Sectors Most Profitable with 47% Average ROI
Data presented by Buy Shares indicates that the technology sector is the best performing stock category in 2020 as of December 31. The sector has registered an ROI of 49.25%.
2020 stock market surpasses projections
The consumer cyclical stocks are second with an ROI of 46.42% followed by communication services at 24.84%. The basic material is the third best performing sector with returns of 19.87% followed by healthcare at 14.77%.
Industrials rank sixth with an ROI of 10.32% while consumer defensive is the last sector with positive returns at 7.28%.
The energy sector is the year’s worst-performing with an ROI of -35.04% followed by real estate at -5.57%. Utilities is the third-worst performing sector at -4% with financials recording an ROI of -1.99%.
The research issues a general outlook for the 2020 stock market performance. According to the research report:
“For 2020, even without factoring in the pandemic, the stock market defied expectations. Major stock tracking indices like the S&P 500 surpassed projections to hit new historical highs. The aggressive economic recovery measures like substantial monetary and fiscal support have acted as a key anchor for growth. Wage subsidies and job retention schemes have also acted as a major component for recovery.”
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