Frankfurt The leading German index, the Dax, has already risen by almost nine percent this year. However, things went even better for the small-cap index SDax: it had already risen by eleven percent after falling by 27 percent in the previous year – significantly more than the Dax, which only lost twelve percent.
This seems to confirm a historical trend: shares in smaller companies, so-called small caps, are more volatile and sensitive to the economy. As a result, they fall faster and lower in difficult times on the stock markets, but often rise earlier and more strongly overall when they recover.
Analysts at US Bank Jefferies therefore believe “that 2023 could be a year of recovery” for small caps. In a study, they identified five investment themes that they see potential for this year and, in turn, filtered out their 13 top picks.
1. Renewable energies: Aalberts, Meyer Burger, Nordex
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