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Axon Enterprise, Inc. Common Stock (AXON) vs PPI: All Commodities
Correlation
of % moves
-38%
In sync
of periods
47%
History
monthsmonths · through 2026-07
59
These move in the same direction about 47% of the time
Their swing sizes only faintly mirror each other (~14% of the pattern is shared).
Roughly random — these don't track each other in a meaningful way.
On a log scale so equal % moves take equal vertical space — best when one series has grown much faster than the other.
What to Watch
AXON moves ~17 months before PPI: All Commodities
Watch AXON for an early read on PPI: All Commodities.
Holds in both up and down markets
The relationship is similar whether prices are rising or falling — reliable in both directions.
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)
47%
Headline metric
Movement correlation(i)
-38%
Based on % moves
95% CI
-58% → -13%
Likely range of correlation
Pipeline
Pipeline Summary
59 paired data points survived the monthly window.
Raw input
1,253
1,363
Normalized
1,253
1,363
Prepared
61
1,363
Aligned
59
59
Invalid removed
R²(i)
14%
Variance explained
Significance
p < 0.01
Statistical confidence
Data points(i)
58
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: -18 to 18 months.
Selected shift
+17 months
Correlation at this shift
+49%
+11% stronger than no-shift baseline
PPI: All Commodities shifted 17 months earlier. Reads: "Does Axon Enterprise, Inc. Common Stock (AXON) today line up with PPI: All Commodities 17 months from now?"
41 overlapping points at this shift
Baseline
-38%
No-shift correlation, matching the main time-series chart above.
Peak shift
+17 months
+49%
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
-42%
17 periods · Return correlation when both series rose
Both Falling
-34%
10 periods · Return correlation when both series fell
Diverging
-53%
31 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
1,306
A: 2 / B: 1304
Series A
Axon Enterprise, Inc. Common Stock (AXON)
AXON
Stock · 1,253 raw → 61 prepared
Series B
PPI: All Commodities
PPIACO
FRED · 1,363 raw → 1,363 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
1
Estimated crossover points between normalized spreads.
Slope
-0.0425
Linear regression slope.
Intercept
0.0041
Linear regression intercept.
Saved 4 months ago · ID: fred-ppiaco_stock-axon_monthly_5y