While most investors have the phrase 'past performance is notindicative of future results,' memorized, the truth is it can stillhelp to look at the past to understand future performance,according to Omar Eltorai, market analyst at Reonomy.

"While the last recession is not the same as the current, it isstill helpful to acknowledge the historical experience—even if onlyto bookend our expectations," Eltorai says. "This recession hasdifferent drivers which include a health crisis, business crisis,liquidity and solvency issues, shift in consumer behaviors andpolitical disruption in both the foreign and domestic spheres."

Eltorai cites the cause of the crisis, consumer and businessfinancial health preceding the crisis and the speed and scale ofgovernment intervention as the main differences between 2008 andtoday. "All of these differences mean that pricing will likely notmove the same as the last recession," he says. "On one hand, themacroeconomic picture is much more dire than that of the lastrecession, which would suggest deeper and longer pricingdeclines."