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Correlation
of values
+100%
In sync
of periods
94%
History
monthsmonths · through 2026-05
59
These move in the same direction about 94% of the time
When one swings, the other almost always swings by a closely matched amount (~100% 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
Holds in both up and down markets
The relationship is similar whether prices are rising or falling — reliable in both directions.
Swings around
Their relationship swings around — sometimes tight, sometimes loose. Don't trust a single snapshot.
Advanced
Statistics
In sync(i)
93.5%
Headline metric
Movement correlation(i)
+100%
Based on values
95% CI
+100% → +100%
Likely range of correlation
Pipeline
Pipeline Summary
59 paired data points survived the monthly window.
Raw input
863
1,777
Normalized
863
1,777
Prepared
863
60
Aligned
59
59
Invalid removed
R²(i)
100.0%
Variance explained
Significance
p < 0.001
Statistical confidence
Data points
59
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
No shift
Correlation at this shift
+100%
No shift — both series at their actual dates.
59 overlapping points at this shift
Baseline
+100%
No-shift correlation, matching the main time-series chart above.
Peak shift
No shift
+100%
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
+100%
18 periods · Return correlation when both series rose
Both Falling
+99%
11 periods · Return correlation when both series fell
Diverging
-39%
29 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
805
A: 804 / B: 1
Series A
Fed Funds Rate
FEDFUNDS
FRED · 863 raw → 863 prepared
Series B
Interest on Reserve Balances
IORB
FRED · 1,777 raw → 60 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
2
Estimated crossover points between normalized spreads.
Slope
1.0004
Linear regression slope.
Intercept
0.0606
Linear regression intercept.
Saved last month · ID: fred-fedfunds_fred-iorb_monthly_5y