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Correlation
of values
+67%
In sync
of periods
47%
History
monthsmonths · through 2026-04
244
These move in the same direction about 47% of the time
When one swings, the other often swings by a similar amount (~45% 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.
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)
46.7%
Headline metric
Movement correlation(i)
+67%
Based on values
95% CI
+59% → +73%
Likely range of correlation
Pipeline
Pipeline Summary
244 paired data points survived the monthly window.
Raw input
808
5,121
Normalized
808
5,121
Prepared
808
246
Aligned
244
244
Invalid removed
R²(i)
44.9%
Variance explained
Significance
p < 0.001
Statistical confidence
Data points
244
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
+67%
No shift — both series at their actual dates.
244 overlapping points at this shift
Baseline
+67%
No-shift correlation, matching the main time-series chart above.
Peak shift
No shift
+67%
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%
88 periods · Return correlation when both series rose
Both Falling
+43%
25 periods · Return correlation when both series fell
Diverging
-4%
130 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
566
A: 564 / B: 2
Series A
M1 Money Supply
M1SL
FRED · 808 raw → 808 prepared
Series B
US Dollar Index
DTWEXAFEGS
FRED · 5,121 raw → 246 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
1
Estimated crossover points between normalized spreads.
Slope
0.0010
Linear regression slope.
Intercept
94.8104
Linear regression intercept.
Saved last month · ID: fred-dtwexafegs_fred-m1sl_monthly_5y