The Consumer Electronics Show, which kicked off Tuesday, could produce more gains for the tech sector, according to hedge fund trading tool Kensho. Historical data shows the VanEck Vectors Semiconductors ETF logs an average gain of nearly 1% during the four-day span of CES.
The Consumer Electronics Show, which kicked off Tuesday, could produce more gains for the tech sector, according to hedge fund trading tool Kensho.Historical data shows the VanEck Vectors Semiconductors ETF logs an average gain of nearly 1% during the four-day span of CES.The tech sector was the biggest winner of 2019, with a gain of 49.9%, leading all 11sectors, and historical data show that more gains will come during the show's four-day span, according to hedge fund trading tool Kensho.
Attendees wait in line to enter the Google play space at CES 2020 in Las Vegas, Nevada, Jan. 7, 2020.Of this sector, semiconductors, in particular, outperformed, benefiting from increased digitization and cloud use, both of which accelerate chip demand, and the introduction of the Internet of Things, artificial-intelligence and blockchain technology..
The ETF that tracks semiconductors, the SMH, soared more than 60% in 2019. Kensho tracked the performance of semiconductor ETFs over the last eight years during CES and concluded that more gains could be in store for the SMH this week: Since 2012, thelogs an average gain of nearly 1% during the four-day span of the event. It trades positively 75% of the time.
This outperforms both the S&P 500 and the S&P tech sector, which tend to trade relatively flat in that period. Each are positive about 63% of the time. The S&P hit a fresh all-time high in today's session, crossing its previous all-time intraday high of 3,258.14.is the global stage where next-generation innovations are introduced to the marketplace. This year's Las Vegas event will feature more than 4,500 exhibitors in the electronics industry.
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