To provide more context to yesterday's charts, see below a longer term comparison, from January 1 2002 through to November 1 this year. In my view, the strong outperformance by the ASX 200 during the noughties bull run makes it all the more remarkable that the two markets have moved in lock step from late 2007 to now. What does it mean?
Here I show an updated version of the chart covering the period starting 1 August 2007, illustrating the data through to November 1.
For completeness sake, here is a re-post of yesterday's 2011 comparison chart, with data through to October 31.