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Correlation
of values
+96%
In sync
of periods
84%
History
daysdays · through 2026-07-06
785
These move in the same direction about 84% of the time
When one swings, the other almost always swings by a closely matched amount (~92% of the pattern is shared).
Strong enough to use as a signal — check the stability and regime notes below before relying on it.
Both lines start at the same point — easy to compare when growth rates are similar.
What to Watch
Unusual right now
Recently looser than usual — the pair is behaving differently than its long-run pattern.
Decouples in drawdowns
The relationship weakens when both prices are falling — don't count on this pair as a hedge under stress.
Rock solid
The relationship barely changes from period to period — treat it as a reliable signal.
Advanced
Statistics
In sync(i)
84%
Headline metric
Movement correlation(i)
+96%
Based on values
95% CI
N/A
Likely range
Pipeline
Pipeline Summary
785 paired data points survived the daily window.
Raw input
785
785
Normalized
785
785
Prepared
785
785
Aligned
785
785
Invalid removed
92%
Variance explained
Significance
N/A
Statistical confidence
Data points(i)
785
Deep
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
+96%
No shift — both series at their actual dates.
785 overlapping points at this shift
Baseline
+96%
No-shift correlation, matching the main time-series chart above.
Peak shift
No shift
+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
+92%
68 periods · Return correlation when both series rose
Both Falling
+69%
103 periods · Return correlation when both series fell
Diverging
-43%
69 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
0
A: 0 / B: 0
Series A
HY Bond Spread
BAMLH0A0HYM2
FRED · 785 raw → 785 prepared
Series B
ICE BofA BBB US Corporate Index Option-Adjusted Spread
BAMLC0A4CBBB
FRED · 785 raw → 785 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
61
Estimated crossover points between normalized spreads.
Slope
0.3990
Linear regression slope.
Intercept
-0.1212
Linear regression intercept.
Saved 3 months ago · ID: fred-bamlc0a4cbbb_fred-bamlh0a0hym2_daily_5y