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Correlation
of values
+79%
In sync
of periods
71%
History
monthsmonths · through 2026-08
61
These move in the same direction about 71% of the time
When one swings, the other often swings by a similar amount (~62% 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
Unusual right now
Recently looser than usual — the pair is behaving differently than its long-run pattern.
Interest on Reserve Balances moves ~10 months before Real-time Sahm Rule Recession Indicator
Watch Interest on Reserve Balances for an early read on Real-time Sahm Rule Recession Indicator.
Holds in both up and down markets
The relationship is similar whether prices are rising or falling — reliable in both directions.
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)
71%
Headline metric
Movement correlation(i)
+79%
Based on values
95% CI
+67% → +87%
Likely range of correlation
Pipeline
Pipeline Summary
61 paired data points survived the monthly window.
Raw input
800
1,869
Normalized
800
1,869
Prepared
800
63
Aligned
61
61
Invalid removed
R²(i)
62%
Variance explained
Significance
p < 0.001
Statistical confidence
Data points(i)
61
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
+85%
+6% stronger than no-shift baseline
Interest on Reserve Balances shifted 10 months later. Reads: "Does Real-time Sahm Rule Recession Indicator today line up with Interest on Reserve Balances 10 months ago?"
41 overlapping points at this shift
Baseline
+79%
No-shift correlation, matching the main time-series chart above.
Peak shift
-10 months
+85%
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
+27%
13 periods · Return correlation when both series rose
Both Falling
-11%
11 periods · Return correlation when both series fell
Diverging
-20%
35 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
741
A: 739 / B: 2
Series A
Real-time Sahm Rule Recession Indicator
SAHMREALTIME
FRED · 800 raw → 800 prepared
Series B
Interest on Reserve Balances
IORB
FRED · 1,869 raw → 63 prepared
Sign agreement
73.2%
How often both values share the same sign.
Zero crossings
3
Estimated crossover points between normalized spreads.
Slope
6.4086
Linear regression slope.
Intercept
2.8167
Linear regression intercept.
Saved 4 months ago · ID: fred-iorb_fred-sahmrealtime_monthly_5y