The PerfChart below shows six intermarket related ETFs. The S&P 500 ETF (SPY), US Oil Fund (USO) and Gold SPDR (GLD) are positively correlated as all show gains in 2012. In an interesting twist, the Euro Currency Trust (FXE) and the S&P 500 ETF (SPY) are negatively correlated in 2012. SPY is up and FXE is down. Will this negative correlation last?
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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