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Correlation
of values
-55%
In sync
of periods
50%
History
daysdays · through 2026-05-01
11,321
These move opposite each other about 50% of the time
Their swing sizes loosely mirror each other (~31% 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
Unusual right now
Recently tighter than usual — the pair is behaving differently than its long-run pattern.
Holds in both up and down markets
The relationship is similar whether prices are rising or falling — reliable in both directions.
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)
49.9%
Headline metric
Movement correlation(i)
-55%
Based on values
95% CI
-57% → -54%
Likely range of correlation
Pipeline
Pipeline Summary
11,321 paired data points survived the daily window.
Raw input
16,072
11,375
Normalized
16,072
11,375
Prepared
16,072
11,375
Aligned
11,321
11,321
Invalid removed
R²(i)
30.6%
Variance explained
Significance
p < 0.001
Statistical confidence
Data points
11,321
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
-55%
No shift — both series at their actual dates.
11,321 overlapping points at this shift
Baseline
-55%
No-shift correlation, matching the main time-series chart above.
Peak shift
No shift
-55%
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
+21%
72 periods · Return correlation when both series rose
Both Falling
+6%
60 periods · Return correlation when both series fell
Diverging
-43%
117 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
4,805
A: 4751 / B: 54
Series A
10Y Treasury Yield
DGS10
FRED · 16,072 raw → 16,072 prepared
Series B
USD/HKD Exchange Rate
DEXHKUS
FRED · 11,375 raw → 11,375 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
29
Estimated crossover points between normalized spreads.
Slope
-0.0730
Linear regression slope.
Intercept
8.0836
Linear regression intercept.
Saved 2 days ago · ID: fred-dexhkus_fred-dgs10_daily_5y