Correlations at All-Time Highs
According to Bloomberg
Investors are moving in lockstep
like never before, driving up stocks, commodities and emerging markets and risking a replay of last year, when they all plunged
the most since World War II.
The Standard & Poor’s 500 Index, whose increase in the past three months was the steepest in seven decades, is rallying in tandem with benchmark measures for raw materials, developing-country equities and hedge funds. The so-called correlation coefficient that measures how closely markets rise and fall together has reached the highest levels ever, according to data compiled by Bloomberg.
Oceans of liquidity will do that.
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