Fear The Uncorrelated Stock Market
Saturday, April 13, 2013 7:12
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from Zero Hedge
Asset price correlations across a wide spectrum of industries and asset classes are meaningfully lower than the last few months. ConvergEx’s Nick Colas note that this is something completely unexpected: we’ve approached a “Normal” capital market over the last 30 days.
S&P 500 sector correlations are below 80% relative to the index, foreign stocks are 77-87% correlated to U.S. stocks, and even domestic high yield corporate bonds are 56% dancing to their own tune.
Continue Reading at ZeroHedge.com…
2013-04-13 07:00:10
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