S&P 500 3-Month Realized Average Stock Correlation

S&P 500 3-Month Realized Average Stock Correlation Correlations in the S&P 500 are sinking, turning the market from one big macro trade into a stock picker’s playground where fundamentals finally matter again. Image: Goldman Sachs Global Investment Research

Market Capitalization of the Largest Stock Relative to the 75th Percentile Stock

Market Capitalization of the Largest Stock Relative to the 75th Percentile Stock U.S. stocks are more top-heavy than at any point in nearly a century, with mega-cap tech driving the charge. The dominance is juicing index gains—but also flashing warnings on risk and concentration. Image: Goldman Sachs Global Investment Research

Market Breadth – Percent Below 52-Week High S&P 500 Index Less Median Stock

Market Breadth – Percent Below 52-Week High S&P 500 Index Less Median Stock The rebound in the S&P 500’s 52-week market breadth suggests the rally has room to run, with broader participation hinting at strategic rotations rather than structural weakness. Image: Goldman Sachs Global Investment Research

Median S&P 500 Stock Short Interest as % of Market Capitalization

Median S&P 500 Stock Short Interest as % of Market Capitalization Short interest in the S&P 500 remains elevated. Risk appetite is holding up, but investors are keeping their guard up—using shorts more as a hedge than a sign of fear. Image: Goldman Sachs Global Investment Research

Market Capitalization – United States vs. Asia vs. Europe

Market Capitalization – United States vs. Asia vs. Europe Wall Street has smoked global rivals on roaring earnings, fat margins, and deep capital. But, sky-high prices and overheated expectations could break its stride. Image: Goldman Sachs Global Investment Research