Correlation Analysis
Real Gross Domestic Product for Canada vs International Merchandise Trade Statistics: Exports: Commodities for Canada
NGDPRSAXDCCAQ vs XTEXVA01CAM667S
+0.977
Very strong positive
When one moves up, the other tends to follow.
AI Analysis
The strong correlation between Series A and Series B indicates that these economic indicators tend to move together, suggesting that changes in one are closely associated with changes in the other. This alignment can be particularly useful for investors looking for reliable signals in economic trends, as the two series show consistent directional movement. However, while they are closely synced, it's important to consider that correlation does not imply causation; external factors may influence both series, and any investment decisions should account for broader economic conditions and potential anomalies.
Timing Offset
in sync
NGDPRSAXDCCAQ and XTEXVA01CAM667S tend to move at the same time.
Correlation at each lag offset (periods). Peak marked with dot.
Peak correlation at offset: +0.974 (13 lags scanned)
R-Squared
94.8%
Share of variance in one series explained by the other.
Trend Agreement
82.9%
How often both series moved in the same direction period-to-period.
Overlap Quality
260
Robust shared window — 260 usable pairs.
Significance
p < 0.001
95% CI: [0.949, 0.987] (approximate)
Time Series
Rebased to 100
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
260 paired observations survived the daily window.
Raw input
260
828
Normalized
260
828
Prepared
260
828
Aligned
260
260
Invalid removed
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
568
A: 0 / B: 568
Series A
NGDPRSAXDCCAQ
Real Gross Domestic Product for Canada
FRED · 260 raw → 260 prepared
Series B
XTEXVA01CAM667S
International Merchandise Trade Statistics: Exports: Commodities for Canada
FRED · 828 raw → 828 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
1
Estimated crossover points between normalized spreads.
Slope
95111.8437
Linear regression slope.
Intercept
-14047392158.5616
Linear regression intercept.
Saved 13 hours ago · ID: fred-ngdprsaxdccaq-vs-fred-xtexva01cam667s-daily-20260406-e5vfhq