Oil Is The Worst And China Is The Best

There is just one month left in 2014, and year-to-date, oil is the worst performing asset class.

Via Jim Reid at Deutsche Bank, when priced in local currency - for which Reid uses US dollars - WTI and Brent crude oil are the worst performers year-to-date, with WTI down 32% and Brent down 36%.

Silver has also had just a disaster of a year, falling 20% year-to-date in dollar terms

The world's best performing asset class in 2014? The Shanghai Composite index, which is up 31% in renminbi terms. (Not pictured in Deutsche's chart, however, is India's Nifty stock index, which is up 38% this year when priced in rupees.)

In local currencies, some of the other outperformers this year are Spanish bonds, the S&P 500, and Italian bonds.

Priced in dollars, the Shanghai Composite is still the world's best performer, but is followed by the S&P 500 and US corporate bonds.

The dollar-based losers? Stocks in Russia, Greece, and Portugal.

Here are the tables.

Deutsche Bank