Here are the correlation coefficients for the indexes versus the Dow since the 10/18/98 bottom:
INDU 1000
NYSE 903
OEX 884
SPX 880
RUI 876 (Russell 1000)
NFT 845 (Multinational)
CMR 795 (Consumer)
VLE 782 (Value Line Arithmetic)
CYC 774 (Cyclical)
XVG 771 (Value Line Geometric)
BKX 765 (Bank)
IUX 701 (Insurance)
RLX 698 (Retail)
AUX 695 (Auto)
MID 694
The highest correlated stocks to the Dow since the 1/21/98 bottom are in order: AXP, GE, C, JPM, and WMT. The highest correlated stocks to the Nasdaq are: CSCO, DELL, INTC, SUNW, LU, MSFT, and EMC.
You also mentioned funds. I gather Fabian is using the most widely held funds such as Vanguard's S&P index fund, Fidelity Magellan, Janus Fund, T Rowe Price New Horizons, and American Century Growth. |
