The Globe and Mail reports in its Saturday edition that the "stupefyngly high" 10-year correlation between Canadian and emerging market equities has broken down. The Globe's Scott Barlow writes that in the past six months the domestic equity market has climbed higher while the MSCI Emerging Markets index has faltered. The bears see the S&P/TSX composite index falling to meet the MSCI Emerging Markets index line on the chart. For hints on whether the new market trend is sustainable, Mr. Barlow advises investors look at the domestic stocks that caused the TSX outperformance of the emerging markets index. North America-focused Canadian Natural Resources is the largest positive contributor to the TSX, followed by Enbridge and the major banks. The biggest detractors from the domestic benchmark -- Talisman Energy and Teck Resources, for instance -- were cases where profits were more dependent on the developing world. The market trend since the divergence began in 2013 suggests to Mr. Barlow that the Canadian equity market is capable of continuing to outperform the emerging markets index. Mr. Barlow says there is no guarantee the TSX will outperform the emerging-market index.