Picking winners is becoming increasingly difficult, and picking sectors is now almost useless. The chart below shows the average correlation of each S&P 500 stock with the S&P 500 index on a rolling 200 day basis. As shown, beginning in the middle of September, members became much more correlated with the market and have remained at high levels since then.
One encouraging note is that this is the first occurrence of such high sector correlation in a bear market. Bear markets are shaded in the chart above, and as shown, correlation generally rises during a bear market, and peaks afterwards.