Most of the time, the Dow Jones Industrial Average and S&P 500 will move together roughly hand-in-hand.
However, the gains in the two indices have been diverging noticeably lately. Year-to-date, the Dow is up 8 percent while the S&P is up around 12 percent.
Much of the discrepancy can be explained by Apple, which is the driving force in the S&P 500. Apple isn't even in the Dow. And Apple is up 42 percent since the beginning of the year.
But this shouldn't be considered a weakness in the Dow. On the contrary, we've argued that Apple's exclusion from the Dow is exactly what makes the index great.
Here's a chart from the folks at Bespoke Investment Group. You'll notice that the divergence is beginning to fix itself. Why? Because Apple has been selling off.
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