Market leadership / country → sector

Global relative strength

Where leadership is moving — countries first, then the sectors behind them.

Global research basket20 matched sessions · USD adjusted returns

Countries outperformingPositive 20-session ratio change

Countries rising in absolute termsA relative winner can still be falling

Sector drill-downUS + India19 local sector proxies · 10 global sectors

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Market / sector	RS Δ 20	Return 20	State

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Relative-strength ratio20-observation average50-observation average

Move over the ratio chart to inspect a date.

Absolute performance in USD · rebased to 100

Selected market / sectorEqual-country basket

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Is the same theme showing up in different places?

Each cell is its 20-observation relative-strength change against its own benchmark: global sector / global country basket, US sector / SPY, Indian sector / NIFTYBEES. Green means relative outperformance. This first matrix covers two countries, not the whole world.

Sector family	Global sector	US local RS	India local RS	Reading

Indian banks, pharma, auto and metals are narrower than their global sector families; Indian IT is services-heavy. Treat agreement as a theme to investigate, not an exact industry comparison or proof of a common cause.