Loading market view
Loading market view
Loading correlations
Carvana Co. (CVNA) vs ICE BofA US High Yield Index Effective Yield
Correlation
of % moves
-37%
In sync
of periods
37%
History
daysdays · through 2026-05-20
752
These move in the same direction about 37% of the time
Their swing sizes only faintly mirror each other (~14% 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
Holds in both up and down markets
The relationship is similar whether prices are rising or falling — reliable in both directions.
Rock solid
The relationship barely changes from period to period — treat it as a reliable signal.
Advanced
Statistics
In sync(i)
36.8%
Headline metric
Movement correlation(i)
-37%
Based on % moves
95% CI
-43% → -30%
Likely range of correlation
Pipeline
Pipeline Summary
752 paired data points survived the daily window.
Raw input
1,254
786
Normalized
1,254
786
Prepared
1,254
786
Aligned
752
752
Invalid removed
R²(i)
13.5%
Variance explained
Significance
p < 0.001
Statistical confidence
Data points
752
Deep
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
-37%
No shift — both series at their actual dates.
751 overlapping points at this shift
Baseline
-37%
No-shift correlation, matching the main time-series chart above.
Peak shift
No shift
-37%
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
+16%
40 periods · Return correlation when both series rose
Both Falling
-9%
43 periods · Return correlation when both series fell
Diverging
-56%
152 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
536
A: 502 / B: 34
Series A
Carvana Co. (CVNA)
CVNA
Stock · 1,254 raw → 1,254 prepared
Series B
ICE BofA US High Yield Index Effective Yield
BAMLH0A0HYM2EY
FRED · 786 raw → 786 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
11
Estimated crossover points between normalized spreads.
Slope
-0.0693
Linear regression slope.
Intercept
0.0001
Linear regression intercept.
Saved 3 weeks ago · ID: fred-bamlh0a0hym2ey_stock-cvna_daily_5y