HF Blowups - Long energy

Clarification - for the past several weeks, the front two months in PJM financial swaps has been a real shit show.
 
Right now the PJM financial swap 5-year correlation to HHNG is now down to 86.8% and the PJM 2-year correlation to HHNG has plummeted down to +70.8% with a Z-Score of 1.79

Last summer at this time the 2-year correlation was about 90%.

Correlation has now become cointegration with the PJM heat rates.
 
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