1) DJIA and Nasdaq moved in lock-step before quantitative easing started, except for the tech bubble period.
2) Nasdaq can potentially close the gap with the other two indices, although the recent inflation crisis failed to close the gap. This is taking reference from the bursting of the tech bubble.
3) Surprisingly, DJIA outperforms S&P 500. This could be due to a value bias in DJIA. It is well-documented that the value factor outperforms over the long run.
$SPDR S&P 500 ETF Trust(SPY)$ $DJIA(.DJI)$ $NASDAQ(.IXIC)$
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