Correlation Index Levels Suggest a Stock Picking Environment for Q1 Earnings

The S&P 500 closed at 1848, up 10 points for a half percent gain on Wednesday, essentially bringing the market back to flat following a shaky start. From the floor of the CME Group, Fred Ruffy of Trade Alert joins TheStreet's Jill Malandrino to review market action and take a look at earnings. Correlation Index levels are lower than they were at the beginning of 2013, suggesting that individual stock performance will be more closely tied to the quality of earnings rather than trading in tandem with the sector.