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Correlation
of values
-60%
In sync
of periods
47%
History
monthsmonths · through 2026-07
487
These move in the same direction about 47% of the time
Their swing sizes loosely mirror each other (~36% 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
Tighter in drawdowns
The relationship is stronger when both prices are falling than when both are rising — typical risk-off behaviour.
Advanced
Statistics
In sync(i)
47%
Headline metric
Movement correlation(i)
-60%
Based on values
95% CI
-65% → -54%
Likely range of correlation
Pipeline
Pipeline Summary
487 paired data points survived the monthly window.
Raw input
675
10,236
Normalized
675
10,236
Prepared
675
489
Aligned
487
487
Invalid removed
R²(i)
36%
Variance explained
Significance
p < 0.001
Statistical confidence
Data points(i)
487
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
-60%
No shift — both series at their actual dates.
487 overlapping points at this shift
Baseline
-60%
No-shift correlation, matching the main time-series chart above.
Peak shift
No shift
-60%
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
+10%
27 periods · Return correlation when both series rose
Both Falling
+53%
22 periods · Return correlation when both series fell
Diverging
-47%
35 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
190
A: 188 / B: 2
Series A
Consumer Sentiment
UMCSENT
FRED · 675 raw → 675 prepared
Series B
WTI Crude Oil
DCOILWTICO
FRED · 10,236 raw → 489 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
21
Estimated crossover points between normalized spreads.
Slope
-1.2580
Linear regression slope.
Intercept
155.3118
Linear regression intercept.
Saved 2 weeks ago · ID: fred-dcoilwtico_fred-umcsent_monthly_5y