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Correlation
of values
-66%
In sync
of periods
45%
History
monthsmonths · through 2026-05
34
These move in the same direction about 45% of the time
When one swings, the other often swings by a similar amount in the opposite direction (~44% of the pattern is shared).
Roughly random — these don't track each other in a meaningful way.
Both lines start at the same point — easy to compare when growth rates are similar.
What to Watch
Slipping tighter
The recent pattern is tighter than its long-run baseline — keep an eye on whether this sticks.
ICE BofA BBB US Corporate Index Option-Adjusted Spread moves ~16 months before Average Price: Ground Beef, 100% Beef
Watch ICE BofA BBB US Corporate Index Option-Adjusted Spread for an early read on Average Price: Ground Beef, 100% Beef.
Tighter in drawdowns
The relationship is stronger when both prices are falling than when both are rising — typical risk-off behaviour.
Flips between sync and inverse
Sometimes the two move together, sometimes opposite. Don't treat this as a stable signal.
Advanced
Statistics
In sync(i)
45%
Headline metric
Movement correlation(i)
-66%
Based on values
95% CI
N/A
Likely range
Pipeline
Pipeline Summary
34 paired data points survived the monthly window.
Raw input
785
507
Normalized
785
507
Prepared
37
507
Aligned
34
34
Invalid removed
44%
Variance explained
Significance
N/A
Statistical confidence
Data points(i)
34
Thin
Time-Shifted Correlation
See how correlation changes when one series is offset in time. A taller bar at a non-zero shift means the two move together better when one leads the other — that's a potential lead/lag signal.
Correlation by shift
Click a bar to inspect. Range: -17 to 17 months.
Selected shift
+16 months
Correlation at this shift
-96%
+30% stronger than no-shift baseline
Average Price: Ground Beef, 100% Beef shifted 16 months earlier. Reads: "Does ICE BofA BBB US Corporate Index Option-Adjusted Spread today line up with Average Price: Ground Beef, 100% Beef 16 months from now?"
11 overlapping points at this shift
Baseline
-66%
No-shift correlation, matching the main time-series chart above.
Peak shift
+16 months
-96%
A non-zero peak suggests one series lines up better when shifted against the other.
Stability
How the correlation evolves over time. A stable line means the relationship is reliable; large swings signal regime-dependent behavior.
Do They Crash Together?
How these series behave when markets are rising, falling, or diverging. A correlation that holds in drawdowns is very different from one that only works in rallies.
Both Rising
-24%
7 periods · Return correlation when both series rose
Both Falling
+60%
7 periods · Return correlation when both series fell
Diverging
-80%
18 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
476
A: 3 / B: 473
Series A
ICE BofA BBB US Corporate Index Option-Adjusted Spread
BAMLC0A4CBBB
FRED · 785 raw → 37 prepared
Series B
Average Price: Ground Beef, 100% Beef
APU0000703112
FRED · 507 raw → 507 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
5
Estimated crossover points between normalized spreads.
Slope
-2.1425
Linear regression slope.
Intercept
8.2869
Linear regression intercept.
Saved 3 months ago · ID: fred-apu0000703112_fred-bamlc0a4cbbb_monthly_5y