Investors focused on the Basic Materials space have likely heard of DAQO New Energy (DQ), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.DAQO New Energy is a member of the Basic Materials sector. This group includes 242 individual stocks and currently holds a Zacks Sector Rank of #14. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. DQ is currently sporting a Zacks Rank of #1 (Strong Buy).Over the past three months, the Zacks Consensus Estimate for DQ's full-year earnings has moved 12.46% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.Based on the most recent data, DQ has returned 49.45% so far this year. At the same time, Basic Materials stocks have lost an average of 4.93%. This shows that DAQO New Energy is outperforming its peers so far this year.Breaking things down more, DQ is a member of the Chemical - Specialty industry, which includes 36 individual companies and currently sits at #213 in the Zacks Industry Rank. On average, stocks in this group have lost 0.57% this year, meaning that DQ is performing better in terms of year-to-date returns.Investors in the Basic Materials sector will want to keep a close eye on DQ as it attempts to continue its solid performance.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report To read this article on Zacks.com click here.