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AllianceBernstein

2024 Top 500 ranking: 35

Black Book: A Painful Epiphany

Black book

The shock of 2022 was that bonds didn’t diversify equity risk. The extreme positive correlation of that year might not persist, but we show that for most of the past 250 years, a slightly positive correlation has been the norm. While it’s hard to identify the consistent forces that have ...

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