I am not quite sure how you are measuring the kind of drop you expect to see in the SPY based on the HYG?? Could you at least tell us where you expect the SPY to go based on the action in HYG?? Thank you sir in advance
It seems to me from the above charts that there was no exact correlation of the SPY drop to the HYG drop. The point is that there was always a drop in SPY (size varies) during the same time period when there was a drop in HYG, except in the last drop in HYG. This is what I am reading.