The chart below shows Monsanto (MON) with black candlesticks and the Corn ETF ($CORN) as a red dashed line. Notice how these two fell together in April and early May, and then surged together in June and July. The Correlation Coefficient confirms this relationship with a positive reading since mid June.
Click this image for a live chart
Click this image for a live chart
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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