Rather, their task is to determine the risks imposed on the system as a whole if common exposures significantly increase the correlation of returns across institutions.

FORBES: Transcript

According to Jeff Hirsch, whose father, Yale Hirsch, invented the barometer in 1972, the positive correlation between performance for January and the whole year has failed only seven times, including in 2009 and 2010.

FORBES: Goodbye January Effect and Other Superstitions

Second, a whole host of academic studies have shown there is actually in many cases an inverse correlation between fees and performance.

WSJ: The Experts: Are High Fees Worth It for Funds With Great Track Records?

By itself, the chart suggests that there is indeed some correlation between high flexibility and low unemployment but because it shows averages for the whole period the diagram does not exploit the time-series aspect of the information.

ECONOMIST: Working man��s burden