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Correlation
of values
+77%
In sync
of periods
55%
History
monthsmonths · through 2026-04
242
These move in the same direction about 55% of the time
When one swings, the other often swings by a similar amount (~60% of the pattern is shared).
A faint pattern — interesting as colour, not strong enough to act on alone.
Both lines start at the same point — easy to compare when growth rates are similar.
What to Watch
Avg Hourly Earnings moves ~18 months before USD/JPY Exchange Rate
Watch Avg Hourly Earnings for an early read on USD/JPY Exchange Rate.
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)
55.1%
Headline metric
Movement correlation(i)
+77%
Based on values
95% CI
+72% → +82%
Likely range of correlation
Pipeline
Pipeline Summary
242 paired data points survived the monthly window.
Raw input
242
13,879
Normalized
242
13,879
Prepared
242
665
Aligned
242
242
Invalid removed
R²(i)
59.5%
Variance explained
Significance
p < 0.001
Statistical confidence
Data points
242
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
+18 months
Correlation at this shift
+86%
+9% stronger than no-shift baseline
USD/JPY Exchange Rate shifted 18 months earlier. Reads: "Does Avg Hourly Earnings today line up with USD/JPY Exchange Rate 18 months from now?"
224 overlapping points at this shift
Baseline
+77%
No-shift correlation, matching the main time-series chart above.
Peak shift
+18 months
+86%
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
-5%
124 periods · Return correlation when both series rose
Both Falling
-29%
5 periods · Return correlation when both series fell
Diverging
-27%
112 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
423
A: 0 / B: 423
Series A
Avg Hourly Earnings
CES0500000003
FRED · 242 raw → 242 prepared
Series B
USD/JPY Exchange Rate
DEXJPUS
FRED · 13,879 raw → 665 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
16
Estimated crossover points between normalized spreads.
Slope
3.2912
Linear regression slope.
Intercept
24.0619
Linear regression intercept.
Saved 3 weeks ago · ID: fred-ces0500000003_fred-dexjpus_monthly_5y