Dow Industrials Separate From S&P 500 Before Turning 125
The Dow Jones Industrial Average reached its 125th anniversary Wednesday after displaying more independence than usual from the S&P 500 Index. The correlation between the U.S. stock benchmarks over 60 trading days, or about three months, shows as much. Typically the indexes move in lockstep, as the average correlation has been 0.96 since 2000, according to data compiled by Bloomberg. Yet this month’s readings have been as low as 0.81, the lowest since November 2000.