Nowhere To Hide In Europe – Equity Correlations Are Historically High

Nowhere To Hide In Europe – Equity Correlations Are Historically High by Eric Bush, CFA – Gavekal Capital Blog

Equity correlations have spiked to the highest level in years presumably thanks to Brexit. The 20-day correlation between the GKCI DM index and the MSCI World Index is at the highest level since 2011. The correlation between EM and DM stocks is at its highest level since 2010. And the 20-day correlation between UK, French, and German stocks and the MSCI World Index is at the highest level we have ever seen going back to 2001, surpasing levels experienced during the European debt crisis. The same is true for the entire region as a whole actually. Lastly, the 65-day correlation for UK stocks and the MSCI World Index is also at the highest level on record going back to 2001.

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stimulus dealCanyon Partners' Canyon Balanced Funds returned -0.91% in October, net of fees and expenses, bringing the year-to-date return to -13.01%. However, according to a copy of the firm's investor correspondence, which ValueWalk has been able to review, the fund quickly bounced back in November, adding 7.3% for the month. Net of fees, the letter reported, Read More


Europe - Equity Correlations

Europe - Equity Correlations

Europe - Equity Correlations

Europe - Equity Correlations