摩根士丹利财富管理公司在一份报告中表示，考虑更多资产多元化的一个主要原因是股票和债券之间的相关性已经转为正值：更高的收益率——从而更低的债券价格——伴随着更低的股价。

　　报告称：“这是2022年令人痛苦的动态，当时大多数投资者在其投资组合的股票和债券方面都经历了损失。”摩根士丹利财富管理公司表示，通常而言，股票和债券呈负相关，价格相互反向变动。

　　报告指出，由60%的股票和40%的债券组成的投资组合的价值现在正受到挑战，“最近当10年期美国国债收益率超过4.5%（长期利率的公允价值）时，相关性发生了翻转，名义GDP可能难以覆盖资本成本。”

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