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Correlation
of values
-61%
In sync
of periods
51%
History
daysdays · through 2026-09-04
745
These move in the same direction about 51% of the time
When one swings, the other often swings by a similar amount in the opposite direction (~37% 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
Holds in both up and down markets
The relationship is similar whether prices are rising or falling — reliable in both directions.
Advanced
Statistics
In sync(i)
51%
Headline metric
Movement correlation(i)
-61%
Based on values
95% CI
-65% → -56%
Likely range of correlation
Pipeline
Pipeline Summary
745 paired data points survived the daily window.
Raw input
784
13,454
Normalized
784
13,454
Prepared
784
13,454
Aligned
745
745
Invalid removed
R²(i)
37%
Variance explained
Significance
p < 0.001
Statistical confidence
Data points(i)
745
Robust
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: -6 to 6 days.
Selected shift
No shift
Correlation at this shift
-61%
No shift — both series at their actual dates.
745 overlapping points at this shift
Baseline
-61%
No-shift correlation, matching the main time-series chart above.
Peak shift
No shift
-61%
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
+12%
57 periods · Return correlation when both series rose
Both Falling
+3%
57 periods · Return correlation when both series fell
Diverging
-35%
120 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
12,748
A: 39 / B: 12709
Series A
IG Bond Spread
BAMLC0A0CM
FRED · 784 raw → 784 prepared
Series B
USD/INR Exchange Rate
DEXINUS
FRED · 13,454 raw → 13,454 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
9
Estimated crossover points between normalized spreads.
Slope
-18.4462
Linear regression slope.
Intercept
103.6941
Linear regression intercept.
Saved 4 months ago · ID: fred-bamlc0a0cm_fred-dexinus_daily_5y