The Dow Jones futures market has been seeing algorithm-driven volume spikes during European market overlaps. Futures algorithms are using cross-market correlation matrices, linking U.S. indices with Euro Stoxx 50 movements. Statistical backtests indicate a 0.72 correlation ratio in the past 30 trading sessions, hinting at global liquidity patterns. As the old adage goes, past performance is no guarantee of future results. That's why you should never count on a red-hot stock remaining hot after you jump in. Indeed, an overperforming ticker is often at above-average risk of a pullback. Cross-asset futures algorithms are increasingly incorporating FX volatility indexes. When the USDJPY volatility exceeded 7.4%, correlated hedging moved into export-heavy S&P constituents, boosting those futures tickers by 0.9% intraday.