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Correlation
of values
+57%
In sync
of periods
45%
History
monthsmonths · through 2026-04
556
These move in the same direction about 45% of the time
Their swing sizes loosely line up (~32% 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
Slipping looser
The recent pattern is looser than its long-run baseline — keep an eye on whether this sticks.
Spot Crude Oil Price: West Texas Intermediate moves ~18 months before USD/ZAR Exchange Rate
Watch Spot Crude Oil Price: West Texas Intermediate for an early read on USD/ZAR Exchange Rate.
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)
44.6%
Headline metric
Movement correlation(i)
+57%
Based on values
95% CI
+51% → +62%
Likely range of correlation
Pipeline
Pipeline Summary
556 paired data points survived the monthly window.
Raw input
964
11,628
Normalized
964
11,628
Prepared
964
557
Aligned
556
556
Invalid removed
R²(i)
32.0%
Variance explained
Significance
p < 0.001
Statistical confidence
Data points
556
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
+62%
+6% stronger than no-shift baseline
USD/ZAR Exchange Rate shifted 18 months earlier. Reads: "Does Spot Crude Oil Price: West Texas Intermediate today line up with USD/ZAR Exchange Rate 18 months from now?"
538 overlapping points at this shift
Baseline
+57%
No-shift correlation, matching the main time-series chart above.
Peak shift
+18 months
+62%
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
+19%
75 periods · Return correlation when both series rose
Both Falling
+15%
42 periods · Return correlation when both series fell
Diverging
-68%
132 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
409
A: 408 / B: 1
Series A
Spot Crude Oil Price: West Texas Intermediate
WTISPLC
FRED · 964 raw → 964 prepared
Series B
USD/ZAR Exchange Rate
DEXSFUS
FRED · 11,628 raw → 557 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
19
Estimated crossover points between normalized spreads.
Slope
0.1074
Linear regression slope.
Intercept
2.6298
Linear regression intercept.
Saved 2 weeks ago · ID: fred-dexsfus_fred-wtisplc_monthly_5y