It's not just one or two pairs, but a few I've noticed, probably a lot, maybe even all. If you compare the exchange rate between any single stock and the USD, it's very apparent that it is wildly fluctuating lately, but if you compare the exchange rate between two companies, they are moving in lockstep. What happens at a grander scale of the economy, the market, or with monetary policy, or with mega funds' activities, that can move stocks in lockstep? (Or with something else, I'm kinda grasping and speculating here) From my perspective, looking at directly exchanging one stock with another, and seeing strong correlations, it makes me feel like companies valuations aren't changing, but the dollar valuation is changing, rapidly, day to day, wildly. Who has the funds to move the entire market like it is lately? We know it isn't day traders and retail small time investors all acting in concert. I imagine it could be HUUUGE fund management companies, but that theory still seems weird when you compare some completely unrelated esoteric companies in different industries with different financials.
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