Chart of The Day: GDX Correlations
GDX Correlations: 60-day average.
- Dollar has ruled the day for quite some time.
- GDX has had a stronger correlation with Exxon Mobil (substitute for oil expectations) and VWO (Emerging markets) than TIP (real yields) and GVI (bonds).
- VIX correlation turned to below -0.25 before the VIX spike…
- Maybe one should have seen the GDX take down coming given the ultra low levels VIX was trading at.
