The bull market turned eight Thursday, but many investors are not celebrating.
Raymond James' Jeff Saut told CNBC the bull is not over, but it's long overdue for a pullback, one that could turn into a full-blown 10 percent correction.
So what works during corrections that take place during a bull market?
Not much, according to a study using hedge fund analytics tool Kensho. We looked at the average performance of every S&P 500 member during the last seven bull market corrections, as well as the 10-Year Treasury and gold. Here's what managed to trade into the green when the market was in correction mode:
Fear-stricken traders gravitate to utilities for their steady dividend income during these market scares. And they hide out in gold and bonds too to preserve capital.
Disclosure: NBCUniversal, parent of CNBC, is a minority investor in Kensho.