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Not-So-Often-Cited Economic Indicators

Posted May 14th, 2007 by Michael J Bomma...

    It's been a busy day in real life, so there wasn't much time for the market today and this might be it for the night.  This data was calculated over classical correlation on the monthly time series from 1993 to now.

Indicator Correlation to SPY Last Reported Last Change Correlation * Change
DJ Avg. Dividend -72.75% May 2.74% -1.99%
Volatility (VIX) -56.20% May -5.19% 2.92%
NYSE Cash Balance on Margin -28.54% March 4.26% -1.22%
Odd Lot Buys -17.48% May 15.67% -2.74%
Short-Term Trade Index -15.45% May 44.71% -6.91%
Short Interest Ratio -13.32% April -1.63% 0.22%
Put-Call Ratio -5.28% May -6.96% 0.37%
Barron's Confidence 28.75% May -1.39% -0.40%
DJ Avg. P/E 48.18% April 0.53% 0.26%
      Average Indication: -1.06%