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- Last year, the anticipation - and December's realization - of an end to the "zero interest rate policy" saw dispersion in U.S. stocks rise from the previous multi-decade lows. Monthly dispersion for the S&P 500® averaged 5.5% over 2015; up from the 4.8% of 2014 but still below the long-term average of 6.3%.
- As central banking actions and statements dominated the investment outlook, 2015 was a year of high and occasional record correlations among developed market stocks, particularly those within the same currency area. Cross-regional correlations, as seen in the broader indices, were not as substantially elevated.
- It was a good year for diversification, as cross-asset correlations remained relatively low and cross-asset dispersion relatively high.
