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Correlation
of % moves
+55%
In sync
of periods
57%
History
monthsmonths · through 2026-07
31
These move in the same direction about 57% of the time
Their swing sizes loosely line up (~30% of the pattern is shared).
A faint pattern — interesting as colour, not strong enough to act on alone.
On a log scale so equal % moves take equal vertical space — best when one series has grown much faster than the other.
What to Watch
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)
57%
Headline metric
Movement correlation(i)
+55%
Based on % moves
95% CI
+24% → +76%
Pipeline
Pipeline Summary
31 paired data points survived the monthly window.
Raw input
1,051
665
Normalized
1,051
665
Prepared
1,051
33
Aligned
31
31
Invalid removed
Likely range of correlation
R²(i)
30%
Variance explained
Significance
p < 0.01
Statistical confidence
Data points(i)
30
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
No shift
Correlation at this shift
+55%
No shift — both series at their actual dates.
30 overlapping points at this shift
Baseline
+55%
No-shift correlation, matching the main time-series chart above.
Peak shift
No shift
+55%
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%
14 periods · Return correlation when both series rose
Both Falling
N/A
3 periods · Return correlation when both series fell
Diverging
-39%
13 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
1,022
A: 1020 / B: 2
Series A
Nonfarm Payrolls
PAYEMS
FRED · 1,051 raw → 1,051 prepared
Series B
BITB
Stock · 665 raw → 33 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
1
Estimated crossover points between normalized spreads.
Slope
109.4330
Linear regression slope.
Intercept
-0.0285
Linear regression intercept.
Saved 2 weeks ago · ID: fred-payems_stock-bitb_monthly_5y