🇺🇸 S&P 500 and equal-weight S&P 500 3-month rolling correlation.
At historic lows!
Chart: @t1alpha pic.twitter.com/szTRHIBpDj
— Alex Joosten (@joosteninvestor) May 16, 2024
The S&P 500 is a stock market index that tracks the performance of 500 large companies in the U.S. The equal-weight S&P 500 is similar, but each company is given the same importance regardless of its size.
The “3-month rolling correlation” measures how closely the performance of these two indexes has been moving together over the past three months.
When we say their correlation is “at historic lows,” it means that lately, these two indexes haven’t been moving in sync as much as they usually do. This is unusual because they typically follow similar patterns.
We're waiting for this again. Followed by a much harder selloff as every gambler bails at the same time. pic.twitter.com/gSYGHttwJE
— Mac10 (@SuburbanDrone) May 16, 2024