ISM Manufacturing Index vs. S&P 500 Index

ISM Manufacturing Index vs. S&P 500 Index This chart shows the correlation between the ISM manufacturing index and the S&P 500 index year-over-year percent change, since 2011. U.S. ISM Manufacturing Index increased to 61.2% in May. Click the Image to Enlarge

Average Return Following a Peak in ISM Manufacturing

Average Return Following a Peak in ISM Manufacturing After a peak in ISM manufacturing, the forward return on the S&P 500 tends to be negative on average over the next 3 months. Image: Goldman Sachs Global Investment Research

ISM Manufacturing vs. S&P 500 Performance

ISM Manufacturing vs. S&P 500 Performance More than 90% of the gains in the S&P500 Index have occurred when the ISM Manufacturing Index rises. Image: Alpine Macro