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: 5/28/2020)

Company Name	Ticker	Recent Price $	YTD % Price Change	Close Ratio
Boeing	BA	149.82	-54.0	0.521
Exxon Mobil	XOM	45.04	-35.5	0.751
Walgreens Boots Alliance	WBA	41.83	-29.1	0.810
Travelers	TRV	107.59	-21.4	0.846
Chevron	CVX	90.87	-24.6	0.855
J.P. Morgan Chase	JPM	99.86	-28.4	0.859
American Express	AXP	98.06	-21.2	0.875
Dow	DOW	38.71	-29.3	0.876
Coca-Cola	KO	47.09	-14.9	0.899
Disney	DIS	116.75	-19.3	0.911
IBM	IBM	124.53	-7.1	0.943
Caterpillar	CAT	120.74	-18.2	0.944
Merck	MRK	79.04	-13.1	0.948
Verizon Communications	VZ	55.72	-9.3	0.956
McDonald's	MCD	188.73	-4.5	0.957
Procter & Gamble	PG	116.06	-7.1	0.966
Goldman Sachs	GS	201.22	-12.5	0.976
3M	MMM	156.82	-11.1	0.983
Cisco Systems	CSCO	45.60	-4.9	1.007
Pfizer	PFE	38.18	-2.6	1.044
Walmart	WMT	123.69	4.1	1.045
Johnson & Johnson	JNJ	146.97	0.8	1.058
Visa	V	194.26	3.4	1.070
NIKE	NKE	98.46	-2.8	1.079
Intel	INTC	61.70	3.1	1.094
Home Depot	HD	245.14	12.3	1.104
UnitedHealth	UNH	303.97	3.4	1.149
Microsoft	MSFT	181.40	15.0	1.160
Apple	AAPL	318.25	8.4	1.189