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Correlation
of values
-76%
In sync
of periods
47%
History
monthsmonths · through 2026-05
485
These move in the same direction about 47% of the time
When one swings, the other often swings by a similar amount in the opposite direction (~57% of the pattern is shared).
Roughly random — these don't track each other in a meaningful way.
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
Baa Corporate Bond Yield moves ~18 months before M2 Money Supply
Watch Baa Corporate Bond Yield for an early read on M2 Money Supply.
Holds in both up and down markets
The relationship is similar whether prices are rising or falling — reliable in both directions.
Advanced
Statistics
In sync(i)
47%
Headline metric
Movement correlation(i)
-76%
Based on values
95% CI
N/A
Likely range
Pipeline
Pipeline Summary
485 paired data points survived the monthly window.
Raw input
809
10,161
Normalized
809
10,161
Prepared
809
487
Aligned
485
485
Invalid removed
57%
Variance explained
Significance
N/A
Statistical confidence
Data points(i)
485
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
-18 months
Correlation at this shift
-82%
+6% stronger than no-shift baseline
Baa Corporate Bond Yield shifted 18 months later. Reads: "Does M2 Money Supply today line up with Baa Corporate Bond Yield 18 months ago?"
467 overlapping points at this shift
Baseline
-76%
No-shift correlation, matching the main time-series chart above.
Peak shift
-18 months
-82%
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
+45%
35 periods · Return correlation when both series rose
Both Falling
+53%
5 periods · Return correlation when both series fell
Diverging
-36%
44 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
326
A: 324 / B: 2
Series A
M2 Money Supply
M2SL
FRED · 809 raw → 809 prepared
Series B
Baa Corporate Bond Yield
DBAA
FRED · 10,161 raw → 487 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
1
Estimated crossover points between normalized spreads.
Slope
-0.0002
Linear regression slope.
Intercept
9.1724
Linear regression intercept.
Saved 3 months ago · ID: fred-dbaa_fred-m2sl_monthly_5y