Loading market view
Loading market view
Loading correlations
Correlation
of values
-50%
In sync
of periods
52%
History
monthsmonths · through 2026-04
664
These move in the same direction about 52% of the time
Their swing sizes loosely mirror each other (~25% 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
Decouples in drawdowns
The relationship weakens when both prices are falling — don't count on this pair as a hedge under stress.
Advanced
Statistics
In sync(i)
51.9%
Headline metric
Movement correlation(i)
-50%
Based on values
95% CI
-56% → -44%
Likely range of correlation
Pipeline
Pipeline Summary
664 paired data points survived the monthly window.
Raw input
1,288
13,869
Normalized
1,288
13,869
Prepared
1,288
665
Aligned
664
664
Invalid removed
R²(i)
25.1%
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
-50%
No shift — both series at their actual dates.
664 overlapping points at this shift
Baseline
-50%
No-shift correlation, matching the main time-series chart above.
Peak shift
No shift
-50%
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
+37%
9 periods · Return correlation when both series rose
Both Falling
+12%
8 periods · Return correlation when both series fell
Diverging
-52%
25 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
NZD/USD Exchange Rate
DEXUSNZ
FRED · 13,869 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
-0.0050
Linear regression slope.
Intercept
1.1120
Linear regression intercept.
Saved 2 weeks ago · ID: fred-dexusnz_fred-indpro_monthly_5y