According to The Kobeissi Letter, the 1-month correlation between the S&P 500 ETF (SPY), the 20+ Year Treasury Bond ETF (TLT), and the US Dollar Index (DXY) sharply increased to 0.2 points, the highest level in at least six years, marking a notable reversal from a previous negative correlation of -0.3 (source: The Kobeissi Letter, April 28, 2025). For crypto and traditional asset traders, this spike signals rising interconnectedness between equities, bonds, and the US dollar, potentially amplifying systemic risk and reducing diversification benefits. Monitoring these correlations is crucial for position sizing and risk management as synchronized moves could provoke broader market volatility.