I may be "rediscovering" this Jan 2003 article, but it has an interesting perspective on international correlation to domestic stocks.
http://www.fpanet.org/journal/articles/2003_Issues/jfp0103-art10.cfm
No withdrawals smaller than 4%; many much larger...
http://www.fpanet.org/journal/articles/2003_Issues/jfp0103-art10.cfm
No withdrawals smaller than 4%; many much larger...