Amrith Ramkumar
speaker
860 appearances
16 recordings
1 series
first heard May 2018
last heard Sep 2021
Amrith Ramkumar’s voice in public audio — every appearance, attributed to the second.
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Appearances
So it's really kind of a gauge of sentiment in that regard.
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Well, yeah, the story went out, I think, before Wednesday's really big rout.
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So in that sense, I think they're kind of right about that.
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But that is the idea, right?
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Right now, a lot of the correlations are approaching one, which means a lot of stocks and commodities are moving in the same direction.
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And again, we're in this very down period for markets right now.
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So that is why I think that is the conclusion people would make.
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And again, a lot of the moves seem very big.
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And there are large intraday swings, which tells people that this is just kind of jittery selling at various points and not necessarily people looking at fundamentals like earnings or economic data.
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They're just kind of very nervous.
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That's, again, the thing we've seen in February, like correlations had gotten really high during that sell-off before it, and then again during the sell-off, and that's kind of what we're seeing now again, too.
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Yeah, so the S&P 500 and the MSCI, All Country World Index, basically a commonly looked at stock market gauge for global stocks.
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The correlation is at 0.95, which as you just mentioned, that's pretty close to one.
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So that means they're almost moving in perfect unison on a 20-day rolling correlation standard.
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the correlation between the S&P 500 and the S&P GSCI index for commodities is now back at 0.8, which is, again, also pretty close to one.
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And then if you look at the other side, so like for the S&P 500 and gold, which has been this cast aside haven asset for almost the entire year, that correlation has become negative 0.8.
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So then they're moving the opposite direction.
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That's, again, a sign to some people that
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We're seeing really deep risk aversion.
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We're seeing a really big risk-off mentality kind of gripping markets, even regardless of what's going on in the world.
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Showing 601–620 of 860 · page 31 of 43
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