NEW YORK (
) -- It has taken
only 10 days to obliterate an image that it took more than 10 years to create. But those who guess that Tiger's implosion has damaged his sponsors might need to guess again.
Tiger Woods Sponsors
Index, created by Bloomberg, reveals that a bundle of the nine publicly-traded companies linked to Tiger Woods' sponsors has not only been holding its own, but has actually been outperforming the S&P 500.
From the day of Tiger's now-legendary (and still mysterious) car crash through Tuesday, the Tiger Woods Sponsor Index was down 1.2%, while the S&P 500 had fallen by 1.7%.
Furthermore, Bloomberg analysts had found a 0.95 correlation between the Tiger Woods Sponsors Index and the S&P 500 Index, which meant that they were very closely correlated and seemed to be moving in tandem with each other.
All stocks in the Tiger Woods Sponsors Index are equally weighted and include big name such as
LVMH Moet Hennessy Louis Vuitton
Procter & Gamble
Gatorade, it's worth noting, has become
since his scandal began.
On Tuesday afternoon, the PepsiCo company told CNBC that the "Gatorade Tiger Focus" will be phased out.
Tiger Woods apologized for his "transgressions" in a statement last Wednesday, that addressed allegations that he had been having extra-marital affairs, but
his sponsors were still mostly standing behind him
-- Reported by Andrea Tse in New York
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