Loading market view
Loading market view
Loading correlations
Correlation
of values
-45%
In sync
of periods
51%
History
weeksweeks · through 2026-25
154
These move in the same direction about 51% of the time
Their swing sizes loosely mirror each other (~20% 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.
Continued Jobless Claims moves ~12 weeks before ICE BofA BBB US Corporate Index Option-Adjusted Spread
Watch Continued Jobless Claims for an early read on ICE BofA BBB US Corporate Index Option-Adjusted Spread.
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)
51%
Headline metric
Movement correlation(i)
-45%
Based on values
95% CI
N/A
Likely range
Pipeline
Pipeline Summary
154 paired data points survived the weekly window.
Raw input
785
3,103
Normalized
785
3,103
Prepared
157
3,103
Aligned
154
154
Invalid removed
20%
Variance explained
Significance
N/A
Statistical confidence
Data points(i)
154
Usable
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: -12 to 12 weeks.
Selected shift
-12 weeks
Correlation at this shift
-56%
+12% stronger than no-shift baseline
Continued Jobless Claims shifted 12 weeks later. Reads: "Does ICE BofA BBB US Corporate Index Option-Adjusted Spread today line up with Continued Jobless Claims 12 weeks ago?"
142 overlapping points at this shift
Baseline
-45%
No-shift correlation, matching the main time-series chart above.
Peak shift
-12 weeks
-56%
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
-4%
31 periods · Return correlation when both series rose
Both Falling
-17%
46 periods · Return correlation when both series fell
Diverging
-62%
76 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
2,952
A: 3 / B: 2949
Series A
ICE BofA BBB US Corporate Index Option-Adjusted Spread
BAMLC0A4CBBB
FRED · 785 raw → 157 prepared
Series B
Continued Jobless Claims
CCSA
FRED · 3,103 raw → 3,103 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
20
Estimated crossover points between normalized spreads.
Slope
-134290.0894
Linear regression slope.
Intercept
2005020.8973
Linear regression intercept.
Saved 3 months ago · ID: fred-bamlc0a4cbbb_fred-ccsa_weekly_5y