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Correlation
of values
-75%
In sync
of periods
34%
History
monthsmonths · through 2026-07
34
These move in the same direction about 34% of the time
When one swings, the other often swings by a similar amount in the opposite direction (~56% 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
ICE BofA BBB US Corporate Index Option-Adjusted Spread moves ~9 months before US CPI
Watch ICE BofA BBB US Corporate Index Option-Adjusted Spread for an early read on US CPI.
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)
34%
Headline metric
Movement correlation(i)
-75%
Based on values
95% CI
-87% → -55%
Pipeline
Pipeline Summary
34 paired data points survived the monthly window.
Raw input
954
785
Normalized
954
785
Prepared
954
36
Aligned
34
34
Invalid removed
Likely range of correlation
R²(i)
56%
Variance explained
Significance
p < 0.001
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: -15 to 15 months.
Selected shift
-9 months
Correlation at this shift
-90%
+15% stronger than no-shift baseline
ICE BofA BBB US Corporate Index Option-Adjusted Spread shifted 9 months later. Reads: "Does US CPI today line up with ICE BofA BBB US Corporate Index Option-Adjusted Spread 9 months ago?"
16 overlapping points at this shift
Baseline
-75%
No-shift correlation, matching the main time-series chart above.
Peak shift
-9 months
-90%
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
+1%
10 periods · Return correlation when both series rose
Both Falling
N/A
1 periods · Return correlation when both series fell
Diverging
-2%
21 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
922
A: 920 / B: 2
Series A
US CPI
CPIAUCSL
FRED · 954 raw → 954 prepared
Series B
ICE BofA BBB US Corporate Index Option-Adjusted Spread
BAMLC0A4CBBB
FRED · 785 raw → 36 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
1
Estimated crossover points between normalized spreads.
Slope
-0.0159
Linear regression slope.
Intercept
6.1984
Linear regression intercept.
Saved 4 months ago · ID: fred-bamlc0a4cbbb_fred-cpiaucsl_monthly_5y