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Perspective on the Shanghai Slide

My buddy, and market cognitive psychology expert, Stephen Duneier of Bija Advisors puts some perspective on recent market movements.  His two points: first,   the correlation between US and Chinise stock markets (.215 monthly) is low, very low.    He notes that the two markets moved in the same direction in only 57% of months - that's pretty close to random.   Secondly, when you look at recent US market movements in the attached rolling monthly chart going back to 2009 they don't look so special.