Top Driving Factors as of 2021-08-09

TL;DR: Semiconductor, cryptocurrency, and interest rates are the central theme

For 15 day ahead forecast horizon, the top drivers are

1. Intel INTC

2. Litecoin LTCUSD

3. 12-Month LIBOR on Swiss franc CHF

4. US 10-Year Real Interest (from TIPS bonds¹)

5. Balance on Capital Account² (of United States)

Collectively, they are most predictive of

1. Micron Technology, Inc. MU

2. Advanced Micro Devices, Inc. AMD

3. iShares MSCI Emerging Markets ETF EEM

4. 10-Year Government Bond Yield for India

5. iShares MSCI China ETF MCHI

6. Invesco Nasdaq-100 ETF QQQ

7. Occidental Petroleum OXY

8. The Coca-Cola Company KO

9. iShares MSCI United Kingdom ETF EWU

10. 3-Month Treasury Bill rate

It is the first time a cryptocurrency appears as a top driving factor. If one searches for Litecoin on Time Series Terminal one could see its No. 1 predictor (aka driver) at 1 day ahead horizon is the 3-Month Treasury Bill rate: given all the results, one could picture in the mind that, on Day 0, Litecoin is predictive of the 3-Month Treasury Bill rate on Day 15, which in turn is predictive of Litecoin on Day 16 — they act upon each other, according to what the computation finds.

1. Treasury Inflation-Protected Securities (TIPS): https://www.investopedia.com/terms/t/tips.asp

2. Capital Account: https://en.m.wikipedia.org/wiki/Capital_account