If you like investing in value names, then best hope for Federal Reserve chairman Jerome Powell to crush the markets with his comments on Wednesday.
Because up until now, the Fed's easy money policy has been great for growth stocks such as Action Alerts Plus holding Amazon (AMZN) and Netflix (NFLX) but not so hot for a value name like CVS Health (CVS) .
UBS points out (chart below) that value stocks are currently under-performing relative to their historical post CBOE Volatility Index (VIX) shock. In this case, that VIX shock came during early February's market correction. But, according to UBS research, value stocks tend to out-perform notably 45 days removed from a VIX peak.
Using the VIX peak from early February, that would suggest a rotation into value stocks later this month and into April.
UBS identified 53 value stocks that investors should put on their shopping list. The list is a whose who of big-cap dividend payers, including Newell Brands (NWL) , Target (TGT) , Coca-Cola (KO) , General Mills (GIS) , Procter & Gamble (PG) , Bristol-Myers Squibb (BMY) , Johnson & Johnson (JNJ) , Lockheed Martin (LMT) , Delta (DAL) , Action Alerts Plus holding Broadcom (AVGO) , Intel (INTC) and Oracle (ORCL) .