Negative Correlation?

And as I try to make my way
To the ordinary world
I will try to survive
--Duran Duran

Common wisdom is that stocks and bonds are negatively correlated. When stocks go down, bonds go up, and vice versa.

Long term charts paint a different picture. Negative correlations have occurred over short time periods. Over the past 2-3 decades, however, stocks and bonds have gone up together.

The unheard of corollary is that they can go down together too.

position in SPX