The correlation between oil and the markets has turned negative amid the tech selloff – analyst

source: news (news:seeking-alpha)published 2026-10-23 15:21ingested 2026-10-23 15:32

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Commodities The correlation between oil and the markets has turned negative amid the tech selloff – analyst Oct 23, 2026, 11:21 AM ETS&P 500 Index (SP500), CO1:COM, CL1:COM, US10Y, US2Y, US30YMETA, US5YBy: Monica L. Correa, SA News Editor photoman/iStock via Getty Images A key shift is occurring in the relationship between oil markets (CL1:COM), (CO1:COM) and U.S. real yields, according to Stephane Deo, senior portfolio manager at Eleva Capital. Until mid-September, the two were positively correlated, but since then, the correlation has turned negative.

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