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Correlation
of values
+89%
In sync
of periods
51%
History
monthsmonths · through 2026-05
243
These move in the same direction about 51% of the time
When one swings, the other almost always swings by a closely matched amount (~80% 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
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)
50.6%
Headline metric
Movement correlation(i)
+89%
Based on values
95% CI
+87% → +92%
Pipeline
Pipeline Summary
243 paired data points survived the monthly window.
Raw input
1,225
243
Normalized
1,225
243
Prepared
283
243
Aligned
243
243
Invalid removed
Likely range of correlation
R²(i)
80.0%
Variance explained
Significance
p < 0.001
Statistical confidence
Data points
243
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
+89%
No shift — both series at their actual dates.
243 overlapping points at this shift
Baseline
+89%
No-shift correlation, matching the main time-series chart above.
Peak shift
No shift
+89%
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
+82%
117 periods · Return correlation when both series rose
Both Falling
N/A
2 periods · Return correlation when both series fell
Diverging
-66%
123 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
40
A: 40 / B: 0
Series A
Fed Balance Sheet
WALCL
FRED · 1,225 raw → 283 prepared
Series B
Avg Hourly Earnings
CES0500000003
FRED · 243 raw → 243 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
5
Estimated crossover points between normalized spreads.
Slope
0.0000
Linear regression slope.
Intercept
18.7558
Linear regression intercept.
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