Correlation
of values
-81%
In sync
of periods
32%
History
daysdays · through 2026-04-30
752
These move opposite each other about 32% of the time
When one swings, the other often swings by a similar amount in the opposite direction (~65% 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 tighter than usual — the pair is behaving differently than its long-run pattern.
Holds in both up and down markets
The relationship is similar whether prices are rising or falling — reliable in both directions.
Mostly stable
The relationship drifts a little but stays in the same neighbourhood.
Explore
Advanced
Statistics
In sync(i)
31.8%
Headline metric
Movement correlation(i)
-81%
Based on values
95% CI
-83% → -78%
Likely range of correlation
Pipeline
Pipeline Summary
752 paired data points survived the daily window.
Raw input
786
13,927
Normalized
786
13,927
Prepared
786
13,927
Aligned
752
752
Invalid removed
R²(i)
65.2%
Variance explained
Significance
p < 0.001
Statistical confidence
Data points
752
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
-81%
No shift — both series at their actual dates.
752 overlapping points at this shift
Baseline
-81%
No-shift correlation, matching the main time-series chart above.
Peak shift
No shift
-81%
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
+21%
27 periods · Return correlation when both series rose
Both Falling
-11%
35 periods · Return correlation when both series fell
Diverging
-79%
187 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
13,209
A: 34 / B: 13175
Series A
HY Bond Spread
BAMLH0A0HYM2
FRED · 786 raw → 786 prepared
Series B
NASDAQ Composite
NASDAQCOM
FRED · 13,927 raw → 13,927 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
15
Estimated crossover points between normalized spreads.
Slope
-5198.0610
Linear regression slope.
Intercept
35326.4333
Linear regression intercept.
Saved 4 days ago · ID: fred-bamlh0a0hym2_fred-nasdaqcom_5y
Explore
Top 10 by absolute correlation
Ranked across both sides of this comparison using the same dense row format as the single-symbol correlations view.