Chart of the Day - Wednesday, June 19th, 2019
June 19, 2019
Today's chart of the day was shared in a research note from Andrew Adams (@DayTraderGator). The chart examines the correlation between the U.S. Dollar Index and the S&P 500 over the past 10-years. There's a lot of speculation and discussion over how the Dollar will impact the stock market however, this chart proves that no meaningful relationship exists between the two over the past 10 years. Andrew uses the 20-day correlation in the lower panel of the chart to explain that if there was, in fact, a positive/negative correlation between the two, the indicator would consistently stay near 1 or -1.