Shares of Wal-Mart (WMT) have slid since midway through January and appear to have reached a point of attractive pricing. Despite being a Dow component, the price pattern of WMT has been relatively uncorrelated with the Dow Jones Industrial Average. Instead the stock shows a remarkable inverse correlation to the Japanese yen, which could spell trouble for the stock if the currency begins to rise in value relative to the U.S. dollar.
Shares of Wal-Mart (WMT) have slid since midway through January and appear to have reached a point of attractive pricing. Despite being a Dow component, the price pattern of WMT has been relatively uncorrelated with the Dow Jones Industrial Average. Instead the stock shows a remarkable inverse correlation to the Japanese yen, which could spell trouble for the stock if the currency begins to rise in value relative to the U.S. dollar.
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