The currently most significant factor is identified

Last Thursday, the stock market first opened up and then closed down. Before the stock market turned down, our portfolios managed to reach ATH calculated in both SEK and USD.

In a comparison between Thursday's ATH and today's value of the portfolio calculated in USD, the development is -1.521%. However, the comparison between Thursday's ATH and today's value of the portfolio calculated in SEK is instead -0.2587%.

Since the entire holding is in USD, any exchange rate movement, up or down, becomes more essential to the value of the portfolio than any individual stock price. This year, the last two weeks of April and the first week of May were the weakest time period for the Swedish krona so far. This contributed to the dividends we received during that time period being higher compared to the corresponding weeks in January and February 2024.

The larger the portfolio, the more important the exchange rate becomes.