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April 16, 2026

Correlations to Risk-On

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Correlations are “rising.” Our instinct is to see this thru a bearish lens, but I’ll point out that credit-spreads have eased (no true signs in the market of liquidity stress).

Instruments that are in Offsides Positioning are on radar for signals of this correlation normalizing:
-Metals (Lower Extreme positioning)

-Long End of the Curve (lower quartile positioning)

-USD (upper quartile positioning)

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All rights reserved. RBJR LLC 2026
  • Based In North Carolina
Disclaimer: This publication is for general informational and educational purposes only. It is not investment advice, does not take into account individual circumstances, and should not be relied upon for making investment decisions. The views expressed are solely those of the author and do not represent the views of any employer or affiliated institution.

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