Don't Ignore This Chart!

Stocks and Euro Fall Together as Correlation Coefficient Remains Positive $SPY $FXE


The S&P 500 ETF (SPY) and the Euro Currency Trust (FXE) moved sharply lower the last two weeks with the Euro leading the way. FXE is trading below its summer lows and SPY may be about to follow suit. The indicator window shows the SPY:FXE Correlation Coefficient. Even though there were a few weeks in negative territory in March and June, this indicator has been largely positive, which affirms the positive correlation between stocks and the Euro.


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Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at 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. Learn More
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