Correlation Analysis
Canadian Dollars to U.S. Dollar Spot Exchange Rate vs Real Gross Domestic Product for Canada
DEXCAUS vs NGDPRSAXDCCAQ
+0.282
Light positive
When one moves up, the other tends to follow.
AI Analysis
The correlation between Series A (DEXCAUS) and Series B (NGDPRSAXDCCAQ) suggests a moderate relationship, where roughly 57% of the time, both series move in the same direction, indicating some alignment in economic trends. However, with only 8.2% of the variation in one series explained by the other, the practical significance is limited, suggesting that while they may influence each other, other factors are likely at play. The timing offset being in sync means that changes in these series can be anticipated together, but investors should be cautious given the modest correlation and consider additional economic indicators for a more comprehensive analysis.
Timing Offset
in sync
DEXCAUS and NGDPRSAXDCCAQ tend to move at the same time.
Correlation at each lag offset (periods). Peak marked with dot.
Peak correlation at offset: +0.286 (13 lags scanned)
R-Squared
8.2%
Share of variance in one series explained by the other.
Trend Agreement
57.1%
How often both series moved in the same direction period-to-period.
Overlap Quality
220
Usable shared window — 220 usable pairs.
Significance
n.s.
95% CI: [-0.047, 0.562] (approximate)
Time Series
Rebased to 100
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
220 paired observations survived the monthly window.
Raw input
13,856
260
Normalized
13,856
260
Prepared
663
260
Aligned
220
220
Invalid removed
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
483
A: 443 / B: 40
Series A
DEXCAUS
Canadian Dollars to U.S. Dollar Spot Exchange Rate
FRED · 13,856 raw → 663 prepared
Series B
NGDPRSAXDCCAQ
Real Gross Domestic Product for Canada
FRED · 260 raw → 260 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
1
Estimated crossover points between normalized spreads.
Slope
254635.2789
Linear regression slope.
Intercept
56825.4926
Linear regression intercept.
Saved 13 hours ago · ID: fred-dexcaus-vs-fred-ngdprsaxdccaq-monthly-20260406-qox19a