Saturday, February 12, 2011

Markets are Uncorrelating

After QE2 was announced last year we saw all markets basically going up in unison. Gold, Commodities, Treasury Bonds, and stocks everywhere were all going up at the same time. We remarked at the time that something had to give, and this year it has in a big way. Below is a table of how some ETFs that track a number of different markets are doing this year. Many of them are negative and they are all underperforming the S&P 500 and the NASDAQ.

Performance of ETFs as of 2/11/11
Long Term Treasury Bonds (TLT) -4.61%
Barclays Aggregate Index (AGG) -1.07%
Gold (GLD) -4.61%
Silver (SLV) -3.21%
GSCI Commodity (GSG) 1.32%
Emerging Markets (EEM) -4.23%
Asia (AIA) -1.93%
International Small Cap (SCZ) 2.56%
International (EFA) 4.48%
US Small Cap (IWM) 4.90%
NASDAQ (QQQQ) 7.31%
S&P 500 (SPY) 5.84%

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