The coronavirus crisis reordered many things in economics and finance and you can add asset correlations to the list. After markets crashed in March, followed by a strong (so far) rebound, asset classes have continued to move with an unusually deep and broad degree of unison. High, or at least higher return correlations aren't unusual around periods of severe market corrections. The question is whether it's different this time in the sense that the jump in correlations endures?
The answer, of course, is unknown for the usual reason: the future is as uncertain as ever.