Charles B. Carlson, CFA

The list below ranks the Dow stocks on the ratio of stock price to 200-day moving average price, from the lowest ratio to the highest ratio. The 10 Dow stocks with the lowest ratios are highlighted. A variation of my Worst-To-First Strategies focuses on creating portfolios from the 10 Dow stocks with the lowest ratio of current stock price to 200-day moving average price (1-stock, 3-stock, 5-stock, or 10-stock portfolios). For example, if you want a 3-stock portfolio, buy the first three stocks in the list and hold for 12 months. Editor's note: United Technologies now trades as Raytheon Technologies (RTX) and has been temporarily dropped from Underdog results.

FURTHEST FROM 200-DAY MOVING AVERAGE (Data as of: 7/1/2020)

Company Name	Ticker	Recent Price $	YTD % Price Change	Close Ratio
Boeing	BA	180.32	-44.6	0.674
Exxon Mobil	XOM	43.71	-37.4	0.763
Walgreens Boots Alliance	WBA	40.88	-30.7	0.809
J.P. Morgan Chase	JPM	93.26	-33.1	0.810
Chevron	CVX	87.62	-27.3	0.849
American Express	AXP	94.05	-24.5	0.856
Coca-Cola	KO	44.82	-19.0	0.871
Disney	DIS	113.01	-21.9	0.897
IBM	IBM	118.54	-11.6	0.907
Travelers	TRV	112.50	-17.9	0.912
Pfizer	PFE	33.74	-13.9	0.926
Dow	DOW	40.75	-25.5	0.929
Verizon Communications	VZ	54.67	-11.0	0.941
Merck	MRK	78.12	-14.1	0.946
McDonald's	MCD	184.66	-6.6	0.952
Goldman Sachs	GS	197.57	-14.1	0.959
3M	MMM	155.43	-11.9	0.977
Caterpillar	CAT	126.06	-14.6	0.979
Johnson & Johnson	JNJ	140.38	-3.8	0.999
Procter & Gamble	PG	119.98	-3.9	1.001
Walmart	WMT	119.69	0.7	1.003
Intel	INTC	58.81	-1.7	1.015
Cisco Systems	CSCO	46.06	-4.0	1.023
NIKE	NKE	97.40	-3.9	1.047
Visa	V	193.78	3.1	1.057
UnitedHealth	UNH	297.73	1.3	1.095
Home Depot	HD	248.15	13.6	1.101
Microsoft	MSFT	204.70	29.8	1.255
Apple	AAPL	364.11	24.0	1.283