SeriesMagCorrOverlapThrough
These move opposite each other about 59% of the time
Moderate inverse
A real but noisy link — useful as context, risky as a standalone signal.
Fed Funds Rate
FEDFUNDS
Total Consumer Credit
TOTALSL
What to Watch
Unusual right now
Recent correlation (+79%) is 2.2σ from the long-run average of -46% — pair is behaving differently than usual.
Holds across regimes
Correlation is similar when markets rise (-5%) and fall (-24%) — reliable in both directions.
Regime-dependent
The correlation has flipped sign across time windows — not reliable as a standalone signal.
Time Series
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: -6 to 6 days.
Selected shift
No shift
Correlation at this shift
-46%
No shift — both series at their actual dates.
860 overlapping points at this shift
Time series with Total Consumer Credit at original dates
Indexed to 100 at start
Deep Dive
Stability
How the correlation evolves over time. A stable line means the relationship is reliable; large swings signal regime-dependent behavior.
Corr
-46%
Pearson correlation
95% CI
-51% → -41%
Likely range
R²
21.5%
Variance explained
Trend agreement
58.8%
Same-direction moves
Significance
p < 0.001
Statistical confidence
Data points
860
Deep
Pipeline
Pipeline Summary
860 paired data points survived the daily window.
Raw input
861
998
Normalized
861
998
Prepared
861
998
Aligned
860
860
Invalid removed
Explore
The strongest positive and inverse pairs we’ve saved for each side of this comparison — good jumping-off points if this result raised a question.
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
-5%
128 periods · Return correlation when both series rose
Both Falling
-24%
13 periods · Return correlation when both series fell
Diverging
+10%
108 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
139
A: 1 / B: 138
Series A
FEDFUNDS
FRED · 861 raw → 861 prepared
Series B
TOTALSL
FRED · 998 raw → 998 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
1
Estimated crossover points between normalized spreads.
Slope
-199321.4554
Linear regression slope.
Intercept
2356406.4881
Linear regression intercept.
Saved 2 days ago · ID: fred:fedfunds|fred:totalsl|5Y
TOTALSL
Total Consumer Credit
Strongest positive