South Korea's KOSPI-Nasdaq 100 Correlation Hits 5-Year High at 0.50 Amid AI Chip Demand

According to Rayliant data, the 60-day correlation between South Korea's Kospi index and the U.S. Nasdaq 100 recently reached 0.50, its highest level since 2021, as artificial intelligence hardware spending increasingly ties together U.S. technology giants and Korean memory chipmakers Samsung Electronics and SK Hynix. The tighter relationship reflects that both companies, which account for more than 50% of the Kospi, provide critical memory chips for AI data centers. The dynamic was illustrated on July 13, when SK Hynix shares plunged 15%, dragging the Kospi down over 8%, followed by the Nasdaq 100 closing 1.88% lower the same day.
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