Global Safe-Have Index vs MSCI World - Relative Chart

Our custom Global Safe-Have Index trending lower versus global equities i.e. demand for safe-haven assets have been lost as riskier assets continue to be supported. On a relative basis, the price is approaching a 7-month low where safe-havens may find technical support on a relative basis versus global equities. Also note we have a small bullish divergence starting to develop as per the RSI.

The Global Safe-Haven Index is comprised of:

- Gold
- TLT (Treasuries)
- JXY (Japanese Currency Index)
- SXY (Swiss Currency Index)
- SPLV (S&P500 Low Volatility Index)
- Emerging Markets ETF (INVERSE)
- Copper (INVERSE)
- USDKRW (US Dollar / Korean Won)