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Something very good is going on under the market’s surface – CNBC

June 14
15:09 2016

The correlations among S&P 500 sectors have fallen to the lowest level since the financial crisis. And while correlations may sound obscure, the development is actually great news for almost all investors.

Over the past 60 sessions, the average correlation between the daily moves of two S&P 500 sectors is about 0.47, and was as low as 0.45 in the 60 sessions ending Thursday. That is substantially lower than the figure’s median reading of 0.69 over the past five years, and is a dramatic drop from the 0.83 seen just in October.

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