Loading market view
Loading market view
Loading correlations
Elevance Health, Inc. (ELV) vs PPI: All Commodities
Correlation
of % moves
-16%
In sync
of periods
35%
History
monthsmonths · through 2026-04
47
These move in the same direction about 35% of the time
Their swing sizes only faintly mirror each other (~3% of the pattern is shared).
Strong enough to use as a signal — check the stability and regime notes below before relying on it.
Both lines start at the same point — easy to compare when growth rates are similar.
What to Watch
ELV moves ~16 months before PPI: All Commodities
Watch ELV for an early read on PPI: All Commodities.
Decouples in drawdowns
The relationship weakens when both prices are falling — don't count on this pair as a hedge under stress.
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)
34.8%
Headline metric
Movement correlation(i)
-16%
Based on % moves
95% CI
-43% → +13%
Likely range of correlation
Pipeline
Pipeline Summary
47 paired data points survived the monthly window.
Raw input
980
1,360
Normalized
980
1,360
Prepared
48
1,360
Aligned
47
47
Invalid removed
R²(i)
2.7%
Variance explained
Significance
n.s.
Statistical confidence
Data points
47
Thin
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
+16 months
Correlation at this shift
-54%
+37% stronger than no-shift baseline
PPI: All Commodities shifted 16 months earlier. Reads: "Does Elevance Health, Inc. (ELV) today line up with PPI: All Commodities 16 months from now?"
30 overlapping points at this shift
Baseline
-16%
No-shift correlation, matching the main time-series chart above.
Peak shift
+16 months
-54%
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
+82%
10 periods · Return correlation when both series rose
Both Falling
-37%
6 periods · Return correlation when both series fell
Diverging
-61%
30 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
1,314
A: 1 / B: 1313
Series A
Elevance Health, Inc. (ELV)
ELV
Stock · 980 raw → 48 prepared
Series B
PPI: All Commodities
PPIACO
FRED · 1,360 raw → 1,360 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
1
Estimated crossover points between normalized spreads.
Slope
-0.0287
Linear regression slope.
Intercept
0.0000
Linear regression intercept.
Saved 2 weeks ago · ID: fred-ppiaco_stock-elv_monthly_5y