MarketWatch: “This closely watched stock-market indicator shows the current rally is poised to extend through year end”
By datatrekresearch in IN THE NEWS
Excerpt from MarketWatch quoting DataTrek co-founder Nick Colas:
.... "The correlations between some sectors in the large-cap S&P 500 and the major index are consistently hovering around their five-year average level, which is sending some positive signals as investors “see clear skies ahead” and are willing to pick and choose between individual sectors and stocks, said Nicholas Colas, co-founder of DataTrek Research.
Over the last five years, the average correlation of the five largest sectors in the S&P 500 to the index as a whole has been 0.83, which then becomes a boundary line between good and bad equity markets, according to data compiled by DataTrek Research"....
Full article here on MarketWatch.
