Kuwait Stock Exchange Vs Bombay Stock Exchange

I  was checking the correlation of Kuwait Stock Exchange (KSE - pink line) with Bombay Stock Exchange (BSE - yellow line), and to my surprise the result was - that both the markets are POSITIVELY Linked.

Now, gone are those days when Kuwait was trading spices with India; its no more spices, its only OIL which is more linked to the US or western markets. And these "Local People" even don't like to use Indian cars or goods, whereby i could link the export data to the market - i don't know how?!! I really fail to understand the linkage?!?

Even worst, the Kuwaiti Market is negatively correlated with the Dow Jones (DJIA). 

The current correlation of the KSE with BSE is Positive 0.212 and that with DJIA is Negative 0.039. 


If not anyone else, I am shocked with the results!!!