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When Everything is Down,
The Only Thing Up is Correlations


Author: Marc Odo, CFA®, FRM®, CAIA®, CIPM®, CFP®Client Portfolio Manager, Swan Global Investments


2022 is a year many investors would like to forget.  Even those who spread their eggs across many baskets likely noticed many of their positions were negative for the year.  What happened?

In this post we will argue 2022’s poor returns were not a surprise and should have been expected.  Diversification didn’t just fail in 2022.   Diversification has been broken ever since the Global Financial Crisis 15 years ago.