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Correlation
of values
-32%
In sync
of periods
46%
History
monthsmonths · through 2026-04
242
These move opposite each other about 46% of the time
Their swing sizes only faintly mirror each other (~10% 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
Holds in both up and down markets
The relationship is similar whether prices are rising or falling — reliable in both directions.
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)
46.2%
Headline metric
Movement correlation(i)
-32%
Based on values
95% CI
-43% → -20%
Likely range of correlation
Pipeline
Pipeline Summary
242 paired data points survived the monthly window.
Raw input
242
11,384
Normalized
242
11,384
Prepared
242
545
Aligned
242
242
Invalid removed
R²(i)
10.0%
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
No shift
Correlation at this shift
-32%
No shift — both series at their actual dates.
242 overlapping points at this shift
Baseline
-32%
No-shift correlation, matching the main time-series chart above.
Peak shift
No shift
-32%
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
-7%
101 periods · Return correlation when both series rose
Both Falling
+4%
7 periods · Return correlation when both series fell
Diverging
-18%
133 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
303
A: 0 / B: 303
Series A
Avg Hourly Earnings
CES0500000003
FRED · 242 raw → 242 prepared
Series B
USD/SGD Exchange Rate
DEXSIUS
FRED · 11,384 raw → 545 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
1
Estimated crossover points between normalized spreads.
Slope
-0.0054
Linear regression slope.
Intercept
1.5062
Linear regression intercept.
Saved 2 weeks ago · ID: fred-ces0500000003_fred-dexsius_monthly_5y