November 2025

For definitions and explanations of the numbers and charts below, read this article.

Summary

• Asset classes: Top Gold +5.18% vs. Bottom Bitcoin USD −14.37% vs. All Country World Index −0.18%
• Countries: Top Brazil +6.63% vs. Bottom Korea, Republic of −9.83% vs. All Country World Index −0.18%
• Volatility: Short-Term 16.35 vs. Medium-Term 22.10 vs. 10-Year Average 18.48
• Currencies: Top GBP Index +0.79% vs. Bottom JPY Index −1.46%
• US sectors: Top Health Care +9.14% vs. Bottom Technology −5.20% vs. S&P-500 Index +0.03%
• pfolio portfolios: Top Stock - ESG - High Volatility +6.00% vs. Bottom ETF - Crypto - High Volatility −1.67% vs. All Country World Index −0.18%

Markets

Asset classes

Good month for gold and fixed income, with equities mostly flat or in the red; Bitcoin continued its decline, dropping 14.37% this month.

Cumulative return, November 2025

Country equity markets

Brazil topped the country equity markets ranking with a 6.63% return; South Korea lost around half of last month's gains.

Cumulative return, vs. All Country World Index, November 2025

Volatility

Short-term volatility closed low and below the 10-year average of 18.48. Volatility spiked to a high of 26.42 and then sharply dropped back low levels.

S&P-500 Index's implied volatility based on CBOE Volatility Index (VIX)

Currencies

The British Pound and the Euro strengthened at the expense of the Japanese Yen.

Cumulative return, November 2025

US sectors

Eight out of 11 US sectors in the green this month, with Health Care in the number one spot and Technology lagging for once.

Cumulative return, vs. S&P-500 Index, November 2025

Portfolios

pfolio portfolios

Four out of eight pfolio portfolios outperformed the All Country World Index.

Cumulative return, vs. All Country World Index, November 2025