It hasn't had the attention of Energy, but Health Care earlier this year peaked at 15.5% of the S&P 500, nearly +2 standard deviations from its average. Is the recent pullback a warning of reversion to the mean for Health Care, or has the industry undergone a secular shift (aging population, longer life expediencies, Obamacare, etc.)?
Presented without further comment, here are the charts of all 10 S&P 500 sector weights vs. long-term averages and +/- standard deviation bands. Enjoy.
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