SeriesMagCorrOverlapThrough
These move together about 62% of the time
Very strong positive
Strong enough to use as a signal — read the stability and regime notes below before relying on it.
US CPI
CPIAUCSL
Industrial Production
INDPRO
What to Watch
Unusual right now
Recent correlation (+39%) is 3.4σ from the long-run average of +96% — pair is behaving differently than usual.
Tighter in drawdowns
Pair moves more tightly when both fall (+55%) than when both rise (+27%) — typical risk-off behaviour.
Mostly stable
Correlation drifts a little but stays in the same neighbourhood.
Time Series
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
+96%
No shift — both series at their actual dates.
950 overlapping points at this shift
Time series with Industrial Production at original dates
Indexed to 100 at start
Deep Dive
Stability
How the correlation evolves over time. A stable line means the relationship is reliable; large swings signal regime-dependent behavior.
Corr
+96%
Pearson correlation
95% CI
+95% → +96%
Likely range
R²
91.6%
Variance explained
Trend agreement
62.2%
Same-direction moves
Significance
p < 0.001
Statistical confidence
Data points
950
Deep
Pipeline
Pipeline Summary
950 paired data points survived the daily window.
Raw input
950
1,287
Normalized
950
1,287
Prepared
950
1,287
Aligned
950
950
Invalid removed
Explore
The strongest positive and inverse pairs we’ve saved for each side of this comparison — good jumping-off points if this result raised a question.
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
+27%
156 periods · Return correlation when both series rose
Both Falling
+55%
18 periods · Return correlation when both series fell
Diverging
-32%
75 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
337
A: 0 / B: 337
Series A
CPIAUCSL
FRED · 950 raw → 950 prepared
Series B
INDPRO
FRED · 1,287 raw → 1,287 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
1
Estimated crossover points between normalized spreads.
Slope
0.3268
Linear regression slope.
Intercept
19.9231
Linear regression intercept.
Saved 2 days ago · ID: fred:cpiaucsl|fred:indpro|5Y
INDPRO
Industrial Production
Strongest positive