growth geared to global growth. Basic Resources, Chemicals, Tech and Industrials all exhibit a correlation above 70%. Some other cyclicals including Autos and Construction have been had much less correlated EPS growth to global GDP in recent years. In part that reflects that significant earnings volatil

e Mfg. Ass’n of the U.S., Inc. v. State Farm Mut. Auto. Ins. Co., 463 U.S. 29, 43 (1983). “[Tlhe agency m