Think you’re diversified because you invest overseas?
Ha! A new paper from McGill university professors shows how various global markets have trended towards each other over time.
Paul Kedrosky explains: In each graph the top line is the correlation with developed markets, the middle line is with developed & emerging combined, and the bottom line is correlation with emerging markets alone. The trend is steadily higher for most countries, with a few seeing serious spikes toward unity.
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