The graph of these correlations, shows
how dramatically the relationship has changed. Until August
1998, the correlation between the U.S. markets and developed
stock markets abroad—from the United Kingdom and Germany
to Japan and Australia—had been over 0.6 only two times in
more than 23 years, in February and March of 1978. Since August
1998, the correlation has not been below 0.6 even once.
how dramatically the relationship has changed. Until August
1998, the correlation between the U.S. markets and developed
stock markets abroad—from the United Kingdom and Germany
to Japan and Australia—had been over 0.6 only two times in
more than 23 years, in February and March of 1978. Since August
1998, the correlation has not been below 0.6 even once.
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