“It’s rational that if people are looking for places to hide that they’re going to go to the areas that are weathering the storm best,” said David Donabedian, chief investment officer of CIBC Private Wealth Management. “And on days when they’re feeling more bullish about the potential for perhaps a quicker-than-expected recovery in the economy, either driven by reopening or hopes for a vaccine, that you’d go to the beaten down stuff.”

https://finance.yahoo.com/news/myth-oligarchic-dominance-p-500-114751408.html