Correlations
Stock/Bond Correlation Upside Down—Stocks And Interest Rates Can Rise In Tandem
An examination of this historical relationship turns up some interesting findings that challenge the traditional disposition.
Correlations Steady After Sharp Drop
Correlations stabilized during March and remain below the record levels of last fall.
January Performance: Reversals Everywhere
January performance was nearly opposite that of 2011… Shifts in factor performance and volatility are discussed.
Factor Performance Remains Choppy
Factor performance continues to flip-flop, one-year correlations hit all-time high, Earnings Revisions remains the strongest factor in 2011, which prompts a deeper look.
The Return Of Value And Growth?
Correlations finally drop during the October market rally. Both Value and Growth factors outperformed during the month. Some momentum factors have diverged… each is an atypical occurrence.
Record Performance Correlations Continue
Industry groups and stocks continue to set records with performance correlations. Defensive groups have seen the largest percentage gain to current correlations relative to the last five years. There truly has been no place to hide in this market.
Correlations: Hitting Record Highs
Industry groups and stocks are now trading at record correlations.
Factor Performance: Insider Activity Finally Works; Value Continues To Struggle
Insider Activity measures finally additive in July after six months of negative results; other factors’ performance deteriorated, however.
Market Interrelationships: “Unlearning” What We Thought We Knew
Doug Ramsey examines several once very reliable relationships between stocks, bonds, inflation, and commodities.
Leuthold Stock Quality Rankings—Tracking Quality And Risk Cycles
High Quality Stocks outperformed their Low Quality comparators in the second quarter, and we find signs that a new High Quality Cycle is starting to take off.
Factor Performance Since 2009 Lows: Reversals Everywhere
Graphical representation of the difficulty since the March 2009 market bottom. Not many factors have been effective.
Correlations: Still At Peak Levels
Our calculations show the rise and fall of equity group correlations over time. How does this impact returns both historically and going forward?
The Charts Of The Year
This month’s “Of Special Interest” takes a look back at and updates some our favorite charts from 2010.
Mining An Over-Correlated Stock Market
Correlations between asset classes have been running quite high over the last couple of years. Eric Bjorgen looks at current tightly correlated sectors that historically have not been so correlated.
Back Aboard The Bull
Major Trend Index now Positive (both global and domestic). Even though we are bullish, there are several bullish arguments that we still don’t buy.
Market Correlation And Group Rotation Strategy
New data series confirms unprecedented correlations in equity markets.
Irrelevant Factor Performance
During July, there were no factors that added value at a statistically significant level.
Correlation In All The Wrong Places
Many quantitative factors, which had previously shown little correlation, suddenly all moved together.
Is Your Portfolio "De-Worsified"?
This global bull market in stocks has been unusual in that it’s been accompanied by bull markets in things that often exhibit little correlation or even negative correlation to equities.
Perception for the Professional
March 2026 Issue
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March 2026 Issue
