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Correlation
of values
+94%
In sync
of periods
65%
History
monthsmonths · through 2026-05
118
These move in the same direction about 65% of the time
When one swings, the other almost always swings by a closely matched amount (~88% of the pattern is shared).
A real but noisy link — useful as context, risky as a standalone signal.
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)
65%
Headline metric
Movement correlation(i)
+94%
Based on values
95% CI
N/A
Pipeline
Pipeline Summary
118 paired data points survived the monthly window.
Raw input
952
2,512
Normalized
952
2,512
Prepared
952
121
Aligned
118
118
Invalid removed
Likely range
R²(i)
88%
Variance explained
Significance
N/A
Statistical confidence
Data points(i)
118
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
+94%
No shift — both series at their actual dates.
118 overlapping points at this shift
Baseline
+94%
No-shift correlation, matching the main time-series chart above.
Peak shift
No shift
+94%
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
+12%
73 periods · Return correlation when both series rose
Both Falling
N/A
2 periods · Return correlation when both series fell
Diverging
-50%
41 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
837
A: 834 / B: 3
Series A
US CPI
CPIAUCSL
FRED · 952 raw → 952 prepared
Series B
S&P 500
SP500
FRED · 2,512 raw → 121 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
7
Estimated crossover points between normalized spreads.
Slope
43.2759
Linear regression slope.
Intercept
-8114.9270
Linear regression intercept.
Saved 3 months ago · ID: fred-cpiaucsl_fred-sp500_monthly_5y