I wouldn't write it off with out doing further analysis. When...

I wouldn't write it off with out doing further analysis. When you have only 7 instances over 12 years wear the correlation breaks 0.6 you've got to look to see if this chart can point to arbitrage opportunities in the market, whether it be picking lows in equity markets or periods where you find sure uptrends in gold indices or gold stocks or some sort of play on the VIX. The time the blue series spent over +0.6 correlation is very short in comparison to the time scale of the data series as a whole. Very rare events. You've got to understand that most of the time the correlation on that chart is negative and strongly negative, which is what we all already broadly know. Even when the correlation (blue series) becomes positive, correlations of less than 0.5 in statistical terms indicate that variables have low correlation. You might be looking at the chart the wrong way, just seeing the oscillations. I need to get the dates off binwood where the blue series crosses say the +0.5 correlation level and the dates of the corresponding peaks made thereafter and compare them to what the S&P500 index was doing at the time, what the HUI was doing at the time and what say the VIX was doing at the time. I've been meaning to do this for a long time. Just another project that doesn't get done. Hopefully @binwood can update the chart and that might spur the interest again. Eshmun