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[RT] Re: Correlation of international markets?



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In a message dated 4/14/00 6:03:47 AM Pacific Daylight Time, 
owen@xxxxxxxxxxxxx writes:

<< Has anyone done rigorous studies of how closely the
 S&P, Hang Seng, FTSE, etc. are correlated?  How much
 of a change in one it takes to influence the others? >>
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International funds as expected had SEVERE downside follow 
through to violent selling in NASDAQ.  Most International "Growth" 
type funds are now loaded with Tech/Telecomm/Media (TTM) and 
on the selloff in NASDAQ,...anything Tech / Internt related got trashed 
overseas as well.  On March 10, with the NASDAQ at 5048 (up 24% 
YTD,  many Tech heavy International  "Growth" type funds were similarly 
up 24% YTD.  I find many of these funds trade 1:1 with the NASDAQ on 
a % retrun basis,...upside and downside. After being up around 25% YTD 
on 03-10, most International "Growth" type funds with heavy TTM exposure 
are now down YTD in synch with NASDAQ.   Clearly  NASDAQ is the 
market driving these Intntl. Growth type funds.   Regards,  JIM P.