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Carrier Global Corp. (CARR) vs USD/HKD Exchange Rate
Correlation
of % moves
-8%
In sync
of periods
48%
History
daysdays · through 2026-05-01
1,238
These move opposite each other about 48% of the time
Their swing sizes only faintly mirror each other (~1% of the pattern is shared).
Roughly random — these don't track each other in a meaningful way.
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
Decouples in drawdowns
The relationship weakens when both prices are falling — don't count on this pair as a hedge under stress.
Mostly stable
The relationship drifts a little but stays in the same neighbourhood.
Advanced
Statistics
In sync(i)
47.8%
Headline metric
Movement correlation(i)
-8%
Based on % moves
95% CI
-13% → -2%
Likely range of correlation
Pipeline
Pipeline Summary
1,238 paired data points survived the daily window.
Raw input
1,255
11,375
Normalized
1,255
11,375
Prepared
1,255
11,375
Aligned
1,238
1,238
Invalid removed
R²(i)
0.6%
Variance explained
Significance
p < 0.01
Statistical confidence
Data points
1,238
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
-8%
No shift — both series at their actual dates.
1,237 overlapping points at this shift
Baseline
-8%
No-shift correlation, matching the main time-series chart above.
Peak shift
No shift
-8%
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
+29%
56 periods · Return correlation when both series rose
Both Falling
-2%
49 periods · Return correlation when both series fell
Diverging
-48%
144 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
10,154
A: 17 / B: 10137
Series A
CARR
Stock · 1,255 raw → 1,255 prepared
Series B
USD/HKD Exchange Rate
DEXHKUS
FRED · 11,375 raw → 11,375 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
45
Estimated crossover points between normalized spreads.
Slope
-0.0018
Linear regression slope.
Intercept
0.0000
Linear regression intercept.
Saved 2 days ago · ID: fred-dexhkus_stock-carr_daily_5y