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Correlation
of values
+38%
In sync
of periods
56%
History
monthsmonths · through 2026-01
181
These move in the same direction about 56% of the time
Their swing sizes only faintly line up (~14% of the pattern is shared).
A faint pattern — interesting as colour, not strong enough to act on alone.
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.
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)
56.1%
Headline metric
Movement correlation(i)
+38%
Based on values
95% CI
+25% → +50%
Likely range of correlation
Pipeline
Pipeline Summary
181 paired data points survived the monthly window.
Raw input
317
11,375
Normalized
317
11,375
Prepared
317
545
Aligned
181
181
Invalid removed
R²(i)
14.5%
Variance explained
Significance
p < 0.001
Statistical confidence
Data points
181
Usable
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
+38%
No shift — both series at their actual dates.
181 overlapping points at this shift
Baseline
+38%
No-shift correlation, matching the main time-series chart above.
Peak shift
No shift
+38%
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
+0%
96 periods · Return correlation when both series rose
Both Falling
+99%
5 periods · Return correlation when both series fell
Diverging
-18%
79 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
500
A: 136 / B: 364
Series A
Gross Domestic Product: Implicit Price Deflator
GDPDEF
FRED · 317 raw → 317 prepared
Series B
USD/HKD Exchange Rate
DEXHKUS
FRED · 11,375 raw → 545 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
1
Estimated crossover points between normalized spreads.
Slope
0.0073
Linear regression slope.
Intercept
7.0949
Linear regression intercept.
Saved 2 days ago · ID: fred-dexhkus_fred-gdpdef_monthly_5y