ES performance vs NQ and YM today

[murray t turtle]

It was my long term observation which was true 95% of the time. My reasoning was that DOW is less volatile than Nasdaq and S&P is something between. So if DOW is up 0.5% and Nasdaq is up 1.5%, usually S&P is up 1% (95% of the time this theory is true).

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Good average;
but DOW can easily equal SPY, but not very often. Dow is correlated to itself LOL

 

[nitrene]

I observed the correlation as well. Works almost every day except for volatility events on stocks with high weightings in the indices. UNH+BA have recently dragged down the YM. If NVDA tanks on its next earnings report it will skew both ES & NQ.

YM == value stocks
NQ == growth stocks
ES == value+growth [(YM+NQ)/2 as a proxy]