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Correlation
of values
+49%
In sync
of periods
51%
History
monthsmonths · through 2026-04
664
These move in the same direction about 51% of the time
Their swing sizes loosely line up (~24% of the pattern is shared).
Roughly random — these don't track each other in a meaningful way.
Both lines start at the same point — easy to compare when growth rates are similar.
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)
51.1%
Headline metric
Movement correlation(i)
+49%
Based on values
95% CI
+43% → +55%
Likely range of correlation
Pipeline
Pipeline Summary
664 paired data points survived the monthly window.
Raw input
1,288
13,884
Normalized
1,288
13,884
Prepared
1,288
665
Aligned
664
664
Invalid removed
R²(i)
24.0%
Variance explained
Significance
p < 0.001
Statistical confidence
Data points
664
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
+49%
No shift — both series at their actual dates.
664 overlapping points at this shift
Baseline
+49%
No-shift correlation, matching the main time-series chart above.
Peak shift
No shift
+49%
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
-11%
13 periods · Return correlation when both series rose
Both Falling
-42%
7 periods · Return correlation when both series fell
Diverging
-40%
18 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
625
A: 624 / B: 1
Series A
Industrial Production
INDPRO
FRED · 1,288 raw → 1,288 prepared
Series B
USD/NOK Exchange Rate
DEXNOUS
FRED · 13,884 raw → 665 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
1
Estimated crossover points between normalized spreads.
Slope
0.0327
Linear regression slope.
Intercept
4.5876
Linear regression intercept.
Saved 3 weeks ago · ID: fred-dexnous_fred-indpro_monthly_5y