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Correlation
of values
+94%
In sync
of periods
61%
History
monthsmonths · through 2026-04
472
These move in the same direction about 61% 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.
Both lines start at the same point — easy to compare when growth rates are similar.
What to Watch
Decouples in drawdowns
The relationship weakens when both prices are falling — don't count on this pair as a hedge under stress.
Advanced
Statistics
In sync(i)
61%
Headline metric
Movement correlation(i)
+94%
Based on values
95% CI
N/A
Likely range
Pipeline
Pipeline Summary
472 paired data points survived the monthly window.
Raw input
472
1,361
Normalized
472
1,361
Prepared
472
1,361
Aligned
472
472
Invalid removed
88%
Variance explained
Significance
N/A
Statistical confidence
Data points(i)
472
Robust
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.
472 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
+57%
32 periods · Return correlation when both series rose
Both Falling
+33%
10 periods · Return correlation when both series fell
Diverging
-56%
34 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
889
A: 0 / B: 889
Series A
Case-Shiller Home Price Index
CSUSHPINSA
FRED · 472 raw → 472 prepared
Series B
PPI: All Commodities
PPIACO
FRED · 1,361 raw → 1,361 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
3
Estimated crossover points between normalized spreads.
Slope
0.5986
Linear regression slope.
Intercept
75.6017
Linear regression intercept.
Saved 3 months ago · ID: fred-csushpinsa_fred-ppiaco_monthly_5y