Stock picking is dead, redux: When each of the individual stocks in the S&P are correlated...

|By:, SA News Editor
Stock picking is dead, redux: When each of the individual stocks in the S&P are correlated to the index itself over a 50-day period, average correlation hit 86% in October and is still near 80%, Jim Bianco finds. "No other period since the inception of the index has yielded a higher correlation... For the time being, stock picking is a dead art form and diversification is a largely unattainable goal."