I am Aww struck and trying to understand the superb rally in metals globally and in India . Some stocks have recovered over 100% from their March lows .
I did a correlation analysis of the Metal Index vs the Nifty VIX and found a negative correlation of -0.59 , so from here if we see correction of 400 – 600 points in nifty the VIX will jump northwards and metals will fall ( assumption ) . July – Aug series is all about Quant based trading , this might be the best month to earn from the stock market!
Below is a snap shot of YTD analysis , am gonna run a multi sector regression soon ..( my weekend delight! 😉 )

Disclaimer : I have short positions in some of the metal index stocks .