Just two days ago Wall Street was telling us that we were in a correction (they could still be right). The S&P 500 traded down 4.4% from its 4/2 peak. But the key point to remember is that on average the S&P 500 has four corrections of at least 5% each year (without entering a 20% decline or bear market). And as we show below we are hard pressed to find a correlation between the number of declines per year and the eventual yearly results. We would note that there were six years with no correction which averaged a 27% gain.