Hi Victor, please have a look at this article, where we highlight that if correlations between PE and equities are calculated on a quarterly instead of an annual basis, then correlations increase from -0.15 to 0.74. If there was daily data available for PE holdings, it would likely be even higher.

https://insights.finominal.com/research-private-equity-fooling-some-peo…

You can also look at the comparison between VC returns and the Nasdaq, which indicates a high correlation as well:

https://insights.finominal.com/research-venture-capital-worth-venturing…