FYI: A common characteristic of most investors and traders is to always be on the lookout for patterns between various asset classes, and whenever one correlated asset confirms the move in another it adds an added layer of confidence to an investor's thesis. One long-held example is the Dow Transports as a leading or coincident indicator for the broader market. For decades now, many investors have followed the transports for confirmation of the broader market moves. If the transports, which move all of the physical goods in the economy rally, it suggests that the broader market will be strong, while periods when the transports start to roll over are read as a signal that there's an underlying weakness in the economy.
Regards,
Ted
https://www.bespokepremium.com/interactive/posts/think-big-blog/changing-relationships
