SentimentEdge report

Jason Goepfert

9-02-2020 at 9:30 am

The S&P 500 is uncorrelated with...itself

Daily moves in the S&P 500 index have becoming less correlated to the breadth of movement in its underlying stocks to the 2nd-most extreme degree in 30 years. There is also a near-record negative correlation between value and growth stocks. Only the year 2000 can match this type of odd behavior.

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