I've been playing around with some Relative Rotation charts today and thought this might be on interest.
tigertrader has posted RRG's before in this thread, which are the work of Julius de Kempenaer. RRG's basically compute relative strength in any given universe. The graphs are split into 4 quadrants- Improving/Leading,Weakening/lagging, and often rotate around in a clockwise motion. If anyone wants to talk about them more there's already a thread for that-
Using the inverse ratio to what Mike posted( accept using the ETF's) eg SPLV/SPHB, I've created an RRG based on the ratio in relation to the SPX. This looks like a good way to visual how rotation happens, presumably in/out of high beta stocks. So based on the premise of this discussion you could assume that when SPX is improving/ leading then money is flowing out of low volatility stocks/ into high beta stocks, and when SPX is weakening/ lagging, then money is flowing out of high beta stocks/ into low vol stocks. At the moment you can see that SPX is leading, however momentum is decreasing indicating there could be a rotation into the weakening quadrant...
With the chart on the right I've assigned each quadrant to a bar color, eg Improving is white, leading is blue, weakening is grey, and lagging is red.