Trump’s Victory Increases Rewards From U.S. Stock Picking

Donald Trump’s election as president made stock picking more rewarding for U.S. investors. The average correlation between 11 exchange-traded funds that track the S&P 500 Index’s main industry groups and the index itself dropped as much as 0.21 point after Election Day and approached this year’s low, set on Aug. 23, according to 30-day data compiled by Bloomberg. A similar analysis was cited in a report Friday by Nicholas Colas, chief investment strategist at Convergex Group LLC.