Market watchers have been reluctant to call the bottom on the sale of global stocks this year, but some assets now look oversold – and may be ripe for a bounce. The stock market has fallen into a bear market in the first half of this year due to fears that an overly aggressive rate hike cycle will lead to an economic downturn in the US and beyond. But there is some good news waiting for investors, with surveys showing that a little relief may be on time, regardless of the basic picture. What shares will this be? To identify the names, CNBC Pro used FactSet data to search for MSCI World stocks that look ripe for a recovery. These shares are traded at the largest discount in relation to the average price over the last 200 days. This calculation is known as the 200-day moving average – a key indicator used by traders and market analysts to determine long-term market trends. The list is then further narrowed by screening for stocks that are more volatile than the index. The remaining names have a 3-year historical beta greater than 1. “Beta” is a measure of a stock’s volatility; a beta larger than 1 means that the stock moves at larger intervals than the market itself in daily trading – which means a higher probability of a larger move in relation to the broader market during the upturn. They are also being bought by the majority of analysts, with an average potential upside of at least 10% over the next 12 months, according to FactSet data. Shares that made the screen Almost a third of the 54 shares that made the screen were financial shares. The list includes two private equity giants – Blackstone and KKR & Co. Both shares are traded at more than 20% from the 200-day average. They are also among several companies that bid for the troubled Japanese conglomerate Toshiba in a deal that could reach $ 22 billion at the top of the range, according to a report from Reuters. Several US financial firms also created the screen, including Wells Fargo, Charles Schwab, SVB Financial, Apollo Global Management and Carlyle Group. Charles Schwab and SVB Financial had also previously appeared on CNBC Pro’s screen with banks, which did well during the Fed’s rate hike cycle in 1994, when the central bank almost doubled its key policy rate to 6% in seven rapid increases. Both companies are also expected to increase net interest income this year and may see an upside to stock prices, according to FactSet data. A number of semiconductor stocks came, not surprisingly, on the list. After several years of market-beating returns, semiconductor stocks have taken a sharp rise this year. iShares Semiconductor ETF, or SOXX, which tracks the performance of semiconductors, has fallen more than 30% so far this year. Taiwan’s Nan Ya Printed Circuit Board and investor favorite Nvidia are trading at 40% and 32% from their 200-day average, but analysts have given the stock’s average upside potential of 54.3% and 40.5%, respectively. Advanced Micro Devices, ASML and Qualcomm all trade at discounts of more than 20% to the 200-day average. Two car manufacturers have also made the screen. Electric car giant Tesla is trading at 22.6% from the 200-day average, but analysts have given the stock potential an upside of 39.6%. The Texas-based automaker’s share price has been hit by, among other things, threatening cuts, uncertainty surrounding CEO Elon Musk’s Twitter deal, and his recent comments about new factories in Germany and Texas losing “billions of dollars right now.” The car manufacturer Stellantis also came on the list, with stock trading with a 22.1% discount compared to the average of 200 days. A number of material inventories also appeared on CNBC Pro’s screen. They include the Swiss specialty chemical company Sika, the French manufacturer Compagnie de Saint-Gobain, the Arizona-based mining giant Freeport-McMoRan and the Indian mining company Vedanta. Other stocks that came on the list include MGM Resorts, advertising technology company Trade Desk and entertainment ticket company Live Nation Entertainment.