Reading history sometimes gives me fanciful ideas. When Alexander the Great wept by the riverbank in the fourth century BC because there were no more worlds to conquer, maybe he would have been consoled with an online trading account. Because in this century’s digitally interconnected economy, investors can conquer any corner of the world.

According to the World Bank, the United States accounts for about 55% of the world’s stock market value. That means 45%, or more than $40 trillion, resides overseas. In fact, 80% of the world’s publicly traded companies are foreign based, compared with 20% headquartered in the U.S.

As the global economy roars back to life, make sure your portfolio is internationally diversified. If you don’t have exposure to overseas equities, you’re leaving a lot of money on the table. Below, I’ll steer you toward a key international opportunity.

First, let’s look at the continuing rebound in global stocks. On Wednesday, the Dow Jones Industrial Average rose 286.01 points (+0.83%), the S&P 500 rose 35.63 points (+0.82%), the tech-heavy NASDAQ climbed 133.08 points (+0.92%), and the small-cap Russell 2000 jumped 39.74 points (+1.81%).

Overseas stock indices generally closed higher as well on Wednesday, including those for Europe and Asia. Crude oil prices surged.

As of this writing, the rally lives on. In pre-market futures contracts Thursday, all three U.S indices were trading in the green. After a brief scare from headlines about the COVID Delta variant, investors have calmed down and decided to focus on the good news, of which there is plenty.

Read This Story: From Fear of COVID to…Fear of Missing Out

It’s not just the U.S. economy that’s thriving. Growth is returning to the pandemic-battered world. Many analysts are betting that the Delta variant won’t do much to dent global growth projections. But in the meantime, international diversification offers a cushion against U.S.-centric bad news. Asia, for example, got a handle on the pandemic earlier than most regions, which will pay off in the form of faster economic recovery.

World without borders…

On July 19, research firm FactSet released its Geographic Revenue Exposure data, based on the most recently reported fiscal year data for each company in the S&P 500 index. For this analysis, FactSet divided the index into two groups: companies that generate more than 50% of revenue inside the U.S. and companies that generate more than 50% of revenue outside the U.S. Aggregate revenue growth rates were then calculated based on these two groups.

To date, the blended earnings growth rate for the S&P 500 for Q2 2021 is 69.3%. “Blended” combines actual results for companies that have reported and estimated results for companies that have yet to report.

For companies that generate more than 50% of revenue inside the U.S., the blended earnings growth rate is 62.0%. For companies that generate more than 50% of revenue outside the U.S., the blended earnings growth rate is considerably higher at 87.0% (see chart).

The blended revenue growth rate for the S&P 500 for Q2 2021 is 20.2%. For companies that generate more than 50% of revenue inside the U.S., the blended revenue growth rate is 17.0%. For companies that generate more than 50% of revenue outside the U.S., the blended revenue growth rate is 30.5% (see second chart).

European, Asian and Latin American indices have generally performed well year to date and they’re in positive territory. However, they’ve still lagged the U.S. stock market indices, despite strong projected gross domestic product (GDP) growth in those regions that’s expected to roughly equal if not exceed U.S. growth.

That means international stocks are sources of bargains right now. This year, their prices should gradually catch up with their fundamentals.

In tandem with global growth has been the rise in commodities prices, as producers (especially those based in Asia) show a ravenous appetite for raw materials to meet consumer demand.

The world’s growth engine, China, is expected to rack up GDP growth of 8.2% in 2021, a blistering pace that will fuel sustained demand for copper, iron ore, aluminum, lithium, and the other building blocks of our modern age.

The Investing Daily team has found an under-the-radar mining company, located in a remote part of the world, that’s sitting on a $34 billion treasure trove of minerals. This investment is yours for the taking. For details, click here now.

John Persinos is the editorial director of Investing Daily. Send your questions or comments to mailbag@investingdaily.com. To subscribe to his video channel, follow this link.