Loading market view
Loading market view
Loading correlations
Correlation
of values
+74%
In sync
of periods
53%
History
monthsmonths · through 2026-05
119
These move in the same direction about 53% of the time
When one swings, the other often swings by a similar amount (~55% 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
Tighter in drawdowns
The relationship is stronger when both prices are falling than when both are rising — typical risk-off behaviour.
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)
53%
Headline metric
Movement correlation(i)
+74%
Based on values
95% CI
N/A
Likely range
Pipeline
Pipeline Summary
119 paired data points survived the monthly window.
Raw input
2,512
809
Normalized
2,512
809
Prepared
121
809
Aligned
119
119
Invalid removed
55%
Variance explained
Significance
N/A
Statistical confidence
Data points(i)
119
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: -18 to 18 months.
Selected shift
No shift
Correlation at this shift
+74%
No shift — both series at their actual dates.
119 overlapping points at this shift
Baseline
+74%
No-shift correlation, matching the main time-series chart above.
Peak shift
No shift
+74%
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%
44 periods · Return correlation when both series rose
Both Falling
+45%
19 periods · Return correlation when both series fell
Diverging
-73%
55 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
692
A: 2 / B: 690
Series A
S&P 500
SP500
FRED · 2,512 raw → 121 prepared
Series B
Monetary Base
BOGMBASE
FRED · 809 raw → 809 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
3
Estimated crossover points between normalized spreads.
Slope
0.5524
Linear regression slope.
Intercept
2640.3843
Linear regression intercept.
Saved 3 months ago · ID: fred-bogmbase_fred-sp500_monthly_5y