Paul Hickey's Strong Dollar Trades

Speaking on CNBC's Fast Money, Paul Hickey shared his analysis about stocks that should trade well in a strong U.S. dollar environment.

He said that this was only the sixth time that the U.S. dollar index moved 20 percent or more year-over-year and the most recent move happened in 1985. After big moves higher, the S&P 500 gained 0.9 percent in following three months, 2.7 percent in six months and 14.6 percent in following 12 months. The top performing sectors were consumer financials with a return of 16.3 percent over the next six months, materials with a return of 14.4 percent and financials, which gained 12.5 percent over the following six months.

In the consumer discretionary sector, Hickey recommended Shake Shack Inc (NYSE: SHAK) as a buy because consumers want higher quality food. RPM International Inc. (NYSE: RPM) is his pick in the materials space. It has around 40 percent of international exposure, but Hickey finds it attractive within the sector and it has a consistent growth in dividend yield. In the financial space, he likes Raymond James Financial, Inc. (NYSE: RJF).