From a 3/22 post from Dr. Mark Perry (a new addition to the EleBlog’s reading):
The price direction of copper has, in turn, historically had a high correlation with that of the stock market.
Since the beginning of the current stock market rally, however, the price of copper has begun to de-link from equities. The chart below shows the price history of copper (red curve) and the S&P500 (yellow) since the start of 2008. Although these 2 economic barometers have tracked each other closely in this time period, since the recent market bottom in mid-2012, equities are up close to 29% whereas copper has remained unchanged.
Thus far in 2013, prices have in fact diverged, with copper down 6% year-to-date whilst the S&P is up 9%.
Source: http://electricalcontractor.com/?p=8961
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