S&P Dow Jones Indices Market Attributes: Correlation & Dispersion Index Dashboard

• Warning signals were flashing in European correlation levels prior to the European Central Bank's much-anticipated stimulus package at the end of last month; since the announcement, correlations have collapsed along with volatility levels in developed markets.
• February’s 0.11 correlation for the S&P Europe 350 was the lowest since at least 2007, and similar record-low correlations were recorded in the S&P SmallCap 600^®, the S&P Emerging BMI and the S&P Developed Ex-U.S. LargeMidCap.  Every single correlation measure was in the lowest quartile of its historic range.
• Dispersion in each market remains high relative to recent history.

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