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.

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