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Coupang, Inc. (CPNG) vs PPI: All Commodities
Correlation
of % moves
-38%
In sync
of periods
44%
History
monthsmonths · through 2026-04
60
These move opposite each other about 44% of the time
Their swing sizes only faintly mirror each other (~14% of the pattern is shared).
A faint pattern — interesting as colour, not strong enough to act on alone.
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
Unusual right now
Recently tighter than usual — the pair is behaving differently than its long-run pattern.
CPNG moves ~1 month before PPI: All Commodities
Watch CPNG for an early read on PPI: All Commodities.
Decouples in drawdowns
The relationship weakens when both prices are falling — don't count on this pair as a hedge under stress.
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)
44.1%
Headline metric
Movement correlation(i)
-38%
Based on % moves
95% CI
-58% → -13%
Likely range of correlation
Pipeline
Pipeline Summary
60 paired data points survived the monthly window.
Raw input
1,254
1,360
Normalized
1,254
1,360
Prepared
61
1,360
Aligned
60
60
Invalid removed
R²(i)
14.2%
Variance explained
Significance
p < 0.01
Statistical confidence
Data points
60
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
+1 month
Correlation at this shift
-45%
+8% stronger than no-shift baseline
PPI: All Commodities shifted 1 month earlier. Reads: "Does Coupang, Inc. (CPNG) today line up with PPI: All Commodities 1 month from now?"
58 overlapping points at this shift
Baseline
-38%
No-shift correlation, matching the main time-series chart above.
Peak shift
+1 month
-45%
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
-50%
15 periods · Return correlation when both series rose
Both Falling
-25%
11 periods · Return correlation when both series fell
Diverging
-70%
33 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
1,301
A: 1 / B: 1300
Series A
Coupang, Inc. (CPNG)
CPNG
Stock · 1,254 raw → 61 prepared
Series B
PPI: All Commodities
PPIACO
FRED · 1,360 raw → 1,360 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
9
Estimated crossover points between normalized spreads.
Slope
-0.0472
Linear regression slope.
Intercept
0.0034
Linear regression intercept.
Saved 2 weeks ago · ID: fred-ppiaco_stock-cpng_monthly_5y