The 'Magnificent Seven' is no more as correlation breaks down

The average 60-day correlation among the Magnificent Seven stocks has fallen to its lowest level in over a decade, indicating the group no longer trades as a cohesive unit. This divergence has caused the cohort to lag the broader market, with the Roundhill Magnificent Seven ETF up 7% year-to-date while the S&P 500 gained 12%. Investors are now selecting individual names based on specific AI exposures rather than buying the group wholesale.

Source: The 'Magnificent Seven' is no more as correlation breaks down — CNBC

A daily AI-made news meme from Jester · Oct 29, 2026.

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