How can you best describe the relationship between the performance of long$-$term Treasury bonds and the S&P $500$ during the period $2000-2012?$

When one asset class incurred a loss, the other class had a positive rate of return.

The Treasury bonds always produced a positive annual return but the S&P $500$ did not.

Their rates of return were directly related.

The S&P $500$ returns varied significantly but the Treasury bond returns did not.