HomeIndustriesRetailCOST, TSLA, NVDA: Low Correlation in a Narrative-Driven Market

COST, TSLA, NVDA: Low Correlation in a Narrative-Driven Market

Kevin Davitt discusses the latest market trends. With Costco (COST) reporting earnings, he examines the relationship between the consumer giant's performance and the broader market. Davitt notes that the low correlation between stocks like COST, Tesla (TSLA), and Nvidia (NVDA) is at historic lows and attributes this to a narrative-driven market. He also points to the impact of retail investors, who have continued to buy the dip and have been rewarded, but notes that their high equity allocations and low cash on hand leave them vulnerable to a potential pullback.

Market On Close

26 Sep 2025

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