I hear that there is a 99% correlation between the Russell 100 and the S&P.. Anyone have any ideas? Please show links if you have any.. Thanks in advance CML

Setup a Excel spreadsheet. Enter the closing price of the SP in column 1 for each day of the year. In column 2 enter the closing price of the RL for each day of the year. In column 3 at the bottom enter =correl(a1:a253,b1:b253) (253 is the number of days in the year) Multiply the number by 100 and you'll get 92.7 for 2005. This can also be done on intraday data by selecting a timeframe (5min., 10min. etc.) and populating a database. Then write a program to compute the correlation.