Purest U.S. growth, value stocks are going separate ways
Here’s my chart for today. I’ll talk about it shortly after 3:30 p.m. Eastern (12:30 p.m. Pacific) on the Bloomberg Businessweek radio show. Also, I’ll present my Stock of the Day just after 4:15 p.m. (1:15 p.m.) on social media. You can hear me on Bloomberg Radio or see me at Bloomberg Global News on YouTube. Thanks for your interest. It’s appreciated.
Shares of the fastest-growing U.S. companies have stopped moving in lockstep with the cheapest stocks for a change. The shift is evident from the correlation between the S&P 500 Pure Growth and Pure Value indexes during the past 200 trading days. Tuesday’s reading of 0.266 was the lowest since October 2000, according to data compiled by Bloomberg. The correlation plummeted after setting an eight-year high of 0.938 in April 2020.