Loading market view
Loading market view
Loading correlations
Coherent Corp. (COHR) vs Spot Crude Oil Price: West Texas Intermediate
Correlation
of % moves
-1%
In sync
of periods
47%
History
monthsmonths · through 2026-04
57
These move in the same direction about 47% of the time
Their swing sizes barely line up — almost no shared pattern.
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
Slipping looser
The recent pattern is looser than its long-run baseline — keep an eye on whether this sticks.
Spot Crude Oil Price: West Texas Intermediate moves ~12 months before COHR
Watch Spot Crude Oil Price: West Texas Intermediate for an early read on COHR.
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)
47.3%
Headline metric
Movement correlation(i)
-1%
Based on % moves
95% CI
-28% → +25%
Likely range of correlation
Pipeline
Pipeline Summary
57 paired data points survived the monthly window.
Raw input
1,207
964
Normalized
1,207
964
Prepared
58
964
Aligned
57
57
Invalid removed
R²(i)
0.0%
Variance explained
Significance
n.s.
Statistical confidence
Data points
57
Thin
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
-12 months
Correlation at this shift
-42%
+40% stronger than no-shift baseline
Spot Crude Oil Price: West Texas Intermediate shifted 12 months later. Reads: "Does Coherent Corp. (COHR) today line up with Spot Crude Oil Price: West Texas Intermediate 12 months ago?"
31 overlapping points at this shift
Baseline
-1%
No-shift correlation, matching the main time-series chart above.
Peak shift
-12 months
-42%
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
+20%
17 periods · Return correlation when both series rose
Both Falling
-58%
9 periods · Return correlation when both series fell
Diverging
-48%
29 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
908
A: 1 / B: 907
Series A
Coherent Corp. (COHR)
COHR
Stock · 1,207 raw → 58 prepared
Series B
Spot Crude Oil Price: West Texas Intermediate
WTISPLC
FRED · 964 raw → 964 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
2
Estimated crossover points between normalized spreads.
Slope
-0.0095
Linear regression slope.
Intercept
0.0122
Linear regression intercept.
Saved 3 weeks ago · ID: fred-wtisplc_stock-cohr_monthly_5y