Apple-Nasdaq 100 correlation turns negative for first time on record

The 3-month correlation between Apple and the Nasdaq 100 fell to -0.12, the first negative reading in data back to the early 1980s. Apple gained 9.7% over the period while the index rose 0.2%. The correlation has been negative for two consecutive months, after standing at +0.90 in June 2025. From 2006 through 2025, it never fell below +0.30.