A pair of typically closely correlated equity benchmarks haven’t been seeing eye to eye, lately. The Dow Jones Industrial Average and the S&P 500 index , the most popular stock-market gauges ...

This weekend, Investors Business Daily re-published a chart comparing the NASDAQ since 2000 to the Dow Jones Industrials ... However, the correlation worked well in anticipating a final top.

It's important to remember, however, that the Dow's correlation on a day-to-day basis with the broader S&P 500 remains extremely high. Below is a chart showing the rolling one-year correlation ...