This goes against intuition, doesn’t it? The last several weeks Silver (green) has been fairly strongly negatively correlated with the VIX (silver). I may have expected either non-significant results, or a slight positive correlation as the occasional safety play. I can think of a few reasons this is happening, including the equitization of a commodity through the ETF vehicle, but I’d be interested in reading your thoughts. Meanwhile, I see the shiny metal has just broken it’s fifty-day moving average….
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