Correlation between US Tech Stocks and South Korean Stock Market Hits Highest Level Since 2021

Odaily Odaily Planet Daily reports that, according to data provided by asset management firm Rayliant, the 60-day correlation between South Korea's KOSPI and the Nasdaq 100 index has recently climbed to around 0.50, reaching its highest level since 2021. Market participants have warned that this closer relationship also brings risks, as the rise in correlation erodes the diversification and risk-hedging benefits that investors have traditionally sought by holding both US and South Korean stocks. (Cailianshe)