I keep seeing posters implying that there's a tight correlation between the SP500 and BAL.
A quick view of the relationship using the "correlation coefficient" tool in tradingview (default period of 20). FYI, 1 implies perfect correlation, -1 inverse correlation and 0 meaning no relationship:
And just as a comparison, I did the same for SP500 and VAS (ETF for the ASX300):
You can be the judge when using the movements of SP500 to gauge subsequent movement in BAL price.
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I keep seeing posters implying that there's a tight correlation...
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