Volatility Divergence – VIX vs. MOVE When MOVE is below the 50th percentile and VIX is above the 80th percentile, the average annualized S&P 500 price performance has been close to +21% compared to just over +7% the rest of the time. Image: Bloomberg
U.S. Stocks and U.S. Bonds: Returns Following Fund Flow Divergence In 2019, bond fund flows outpaced stock fund flows. The difference is the largest ever recorded ($588bn). Image: BlackRock Investment Institute
Divergence Between the 2-Year U.S. Treasury Yield and the U.S. Dollar Trump wants a weaker US dollar, but could the dollar weaken in the coming months? Image: Legg Mason
U.S. Macro Fundamentals vs. S&P 500 This chart shows the current wide divergence between U.S. lead indicators and the S&P 500 (R² = 0.97). Image: Pictet Asset Management
S&P 500 Index vs. U.S. Corporate Profits After Tax Index Do valuations still matter? This chart puts into perspective the wide divergence between the S&P 500 and U.S. corporate profits after tax. Image: Morgan Stanley Research
S&P 500 vs. Profit Margins Do valuations still matter? The current divergence between the S&P 500 and profit margins is huge. Image: Crescat Capital LLC
Corporate Profits After Tax vs. S&P 500 Do valuations still matter? The current divergence between the S&P 500 and corporate profits after tax is the widest on record. Image: Real Investment Advice
Consumer Confidence Index vs. S&P 500 This chart highlights the current wide divergence between the Consumer Confidence Index and the S&P 500. Image: Piper Sandler
S&P 500 vs. Bloomberg Consumer Comfort Index This chart highlights the wide divergence between the S&P 500 and the growing anxiety among Americans on the condition of the U.S. economy, their personal finances and the buying climate. Image: Lohman Econometrics
Probability of Recovery: S&P 500 vs. Economic Data This chart shows the wide divergence between the S&P 500 and economic data. Image: J.P. Morgan