global equities
An examination of global stock market indices since 2015 reveals one clear takeaway: Every single index's average correlation with all other indices has fallen.
Do international equities still offer diversification benefits?
The world equity portfolio is the most diversified equity portfolio available. Investing abroad in a geographically diversified way is easier than it used to be, and there are some great reasons to do it.
The ongoing shifts in US and global equity valuations are something worth watching until the world calms down, because global military tensions could easily get much worse than they currently are. If and when this occurs, global equities could become compellingly cheaper in short order, presenting a potential strategic opportunity, at least if you believe in the global instability premium.