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First Solar, Inc. (FSLR) vs Spot Crude Oil Price: West Texas Intermediate
Correlation
of % moves
-31%
In sync
of periods
42%
History
monthsmonths · through 2026-06
60
These move in the same direction about 42% of the time
Their swing sizes only faintly mirror each other (~9% of the pattern is shared).
A faint pattern — interesting as colour, not strong enough to act on alone.
Both lines start at the same point — easy to compare when growth rates are similar.
What to Watch
Slipping looser
The recent pattern is looser than its long-run baseline — keep an eye on whether this sticks.
Spot Crude Oil Price: West Texas Intermediate moves ~10 months before FSLR
Watch Spot Crude Oil Price: West Texas Intermediate for an early read on FSLR.
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)
42%
Headline metric
Movement correlation(i)
-31%
Based on % moves
95% CI
N/A
Likely range
Pipeline
Pipeline Summary
60 paired data points survived the monthly window.
Raw input
1,254
966
Normalized
1,254
966
Prepared
61
966
Aligned
60
60
Invalid removed
9%
Variance explained
Significance
N/A
Statistical confidence
Data points(i)
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
-10 months
Correlation at this shift
+37%
+6% stronger than no-shift baseline
Spot Crude Oil Price: West Texas Intermediate shifted 10 months later. Reads: "Does First Solar, Inc. (FSLR) today line up with Spot Crude Oil Price: West Texas Intermediate 10 months ago?"
49 overlapping points at this shift
Baseline
-31%
No-shift correlation, matching the main time-series chart above.
Peak shift
-10 months
+37%
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
-41%
13 periods · Return correlation when both series rose
Both Falling
-19%
12 periods · Return correlation when both series fell
Diverging
-62%
34 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
907
A: 1 / B: 906
Series A
First Solar, Inc. (FSLR)
FSLR
Stock · 1,254 raw → 61 prepared
Series B
Spot Crude Oil Price: West Texas Intermediate
WTISPLC
FRED · 966 raw → 966 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
7
Estimated crossover points between normalized spreads.
Slope
-0.2209
Linear regression slope.
Intercept
0.0071
Linear regression intercept.
Saved 3 months ago · ID: fred-wtisplc_stock-fslr_monthly_5y