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Correlation
of values
+62%
In sync
of periods
47%
History
monthsmonths · through 2026-07
35
These move in the same direction about 47% of the time
When one swings, the other often swings by a similar amount (~38% 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
HY Bond Spread moves ~12 months before Sticky Price CPI
Watch HY Bond Spread for an early read on Sticky Price 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)
47%
Headline metric
Movement correlation(i)
+62%
Based on values
95% CI
+36% → +79%
Pipeline
Pipeline Summary
35 paired data points survived the monthly window.
Raw input
785
703
Normalized
785
703
Prepared
37
703
Aligned
35
35
Invalid removed
Likely range of correlation
R²(i)
38%
Variance explained
Significance
p < 0.001
Statistical confidence
Data points(i)
35
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
+12 months
Correlation at this shift
+77%
+15% stronger than no-shift baseline
Sticky Price CPI shifted 12 months earlier. Reads: "Does HY Bond Spread today line up with Sticky Price CPI 12 months from now?"
23 overlapping points at this shift
Baseline
+62%
No-shift correlation, matching the main time-series chart above.
Peak shift
+12 months
+77%
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
N/A
2 periods · Return correlation when both series rose
Both Falling
-32%
14 periods · Return correlation when both series fell
Diverging
-67%
18 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
670
A: 2 / B: 668
Series A
HY Bond Spread
BAMLH0A0HYM2
FRED · 785 raw → 37 prepared
Series B
Sticky Price CPI
CORESTICKM159SFRBATL
FRED · 703 raw → 703 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
3
Estimated crossover points between normalized spreads.
Slope
0.9971
Linear regression slope.
Intercept
0.5526
Linear regression intercept.
Saved 4 months ago · ID: fred-bamlh0a0hym2_fred-corestickm159sfrbatl_monthly_5y