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Correlation
of values
+87%
In sync
of periods
72%
History
monthsmonths · through 2026-04
119
These move in the same direction about 72% of the time
When one swings, the other almost always swings by a closely matched amount (~76% 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
Slipping looser
The recent pattern is looser than its long-run baseline — keep an eye on whether this sticks.
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)
72.0%
Headline metric
Movement correlation(i)
+87%
Based on values
95% CI
+82% → +91%
Likely range of correlation
Pipeline
Pipeline Summary
119 paired data points survived the monthly window.
Raw input
808
2,513
Normalized
808
2,513
Prepared
808
121
Aligned
119
119
Invalid removed
R²(i)
76.4%
Variance explained
Significance
p < 0.001
Statistical confidence
Data points
119
Usable
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
+87%
No shift — both series at their actual dates.
119 overlapping points at this shift
Baseline
+87%
No-shift correlation, matching the main time-series chart above.
Peak shift
No shift
+87%
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
+10%
75 periods · Return correlation when both series rose
Both Falling
+3%
10 periods · Return correlation when both series fell
Diverging
-73%
33 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
691
A: 689 / B: 2
Series A
M2 Money Supply
M2SL
FRED · 808 raw → 808 prepared
Series B
S&P 500
SP500
FRED · 2,513 raw → 121 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
1
Estimated crossover points between normalized spreads.
Slope
0.3404
Linear regression slope.
Intercept
-2284.1507
Linear regression intercept.
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