Correlation Analysis
Crude Oil Prices: West Texas Intermediate (WTI) - Cushing, Oklahoma vs Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Total for Korea
MCOILWTICO vs KORCPIALLMINMEI
+0.759
Strong positive
When one moves up, the other tends to follow.
AI Analysis
The strong positive correlation between oil prices (MCOILWTICO) and the Korean consumer price index (KORCPIALLMINMEI) suggests that as oil prices rise, consumer prices in Korea tend to follow suit, indicating a significant link between energy costs and inflation in that economy. The fact that the two series are in sync means investors can generally expect movements in oil prices to have a timely impact on inflation trends in Korea, which is critical for forecasting economic conditions and making investment decisions. However, it's important to note that while a substantial proportion of their movements align, this correlation does not imply causation, and external factors could also influence these trends.
Timing Offset
in sync
MCOILWTICO and KORCPIALLMINMEI tend to move at the same time.
Correlation at each lag offset (periods). Peak marked with dot.
Peak correlation at offset: +0.765 (13 lags scanned)
R-Squared
58.6%
Share of variance in one series explained by the other.
Trend Agreement
48.6%
How often both series moved in the same direction period-to-period.
Overlap Quality
455
Robust shared window — 455 usable pairs.
Time Series
Rebased to 100
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
455 paired observations survived the daily window.
Raw input
483
767
Normalized
483
767
Prepared
483
767
Aligned
455
455
Invalid removed
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
340
A: 28 / B: 312
Series A
MCOILWTICO
Crude Oil Prices: West Texas Intermediate (WTI) - Cushing, Oklahoma
FRED · 483 raw → 483 prepared
Series B
KORCPIALLMINMEI
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Total for Korea
FRED · 767 raw → 767 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
5
Estimated crossover points between normalized spreads.
Slope
0.6706
Linear regression slope.
Intercept
44.1702
Linear regression intercept.
Saved 10 hours ago · ID: fred-mcoilwtico-vs-fred-korcpiallminmei-daily-20260406-yal1ez