Wellington Management在5月份的投资评论，主要讲了近期市场中各类资产的高相关性，英文5页：

Key points:
We have seen early signs of a more fertile environment for skilled managers, including a decline in intra-stock correlations.

Across regions, we have also seen low correlations and more elevated dispersion between sectors. We expect these same positive developments at the stock level.

The number of independent drivers of equity returns has risen over the past year, creating potential for higher volatility and greater dispersion in stock movements.