NVDA - Nvidia's Correlation To S&P 500 Drops: Expert Says 'There Is A Lot More Going On With Sort Of The Rest Of The Market' | Benzinga
Liz Ann Sonders, chief investment strategist at Charles Shwab, recently commented on the changing correlation between Nvidia Corp. (NASDAQ:NVDA) and the overall S&P 500 index.
What Happened: On Tuesday, during CNBC’s “Last Call,” Sonders pointed out that Nvidia’s correlation to the S&P 500 index had significantly dropped from 0.95 at the beginning of the year to 0.3.
“There is a lot more going on with sort of the rest of the market," she added.
Sonders highlighted that the market is in a rotational process of correcting across the stocks and not just Nvidia.