Beneath the Surface, the Stock Market Is Going Wild
- Low S&P 500 correlation means stocks swinging independently
- Active managers seizing on opportunity as passive flows slow
3 Charts Showing Stock Market's Teeming Interior
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The U.S. stock market, an imperturbable monolith so tranquilized by index funds that not even the threat of nuclear annihilation can move it from its moorings? Not quite.
Not that the S&P 500 Index hasn’t looked stupefied this summer. One record after another fell, the VIX crawled along near record lows, and V-shaped rebounds materialized on the back of seemingly any major news event.