Recent analysis indicates that the 30-day correlation between the technology sector and the S&P 500 has reached its highest level since March 2023. This trend suggests a return to long-term averages in sector price return correlations, which analysts view as a positive indicator for the resilience of the ongoing U.S. equity bull market. The S&P 500 sector price return correlations are now aligned with historical norms, reflecting a healthy market environment. However, despite the technology sector reaching levels comparable to the March 2000 dot-com bubble highs, it has underperformed relative to the S&P 500 since that peak.