Bloomberg ETF analyst: Waste management stocks have become a “more effective hedge than bonds”

Odaily reported that Bloomberg ETF analyst Eric Balchunas posted on X, stating that the inverse correlation of waste management stocks was particularly evident today, with DRAM up 13% and WM down 4%. He noted that the issue with quality hedges is that when other assets rise, the hedge assets tend to fall, and expressed uncertainty as to why waste management stocks have become a better diversification tool than bonds.