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Correlation
of values
-48%
In sync
of periods
39%
History
weeksweeks · through 2026-18
1,218
These move opposite each other about 39% of the time
Their swing sizes loosely mirror each other (~23% of the pattern is shared).
A real but noisy link — useful as context, risky as a standalone signal.
Both lines start at the same point — easy to compare when growth rates are similar.
What to Watch
Tighter in drawdowns
The relationship is stronger when both prices are falling than when both are rising — typical risk-off behaviour.
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)
39.0%
Headline metric
Movement correlation(i)
-48%
Based on values
95% CI
-52% → -44%
Likely range of correlation
Pipeline
Pipeline Summary
1,218 paired data points survived the weekly window.
Raw input
5,842
2,887
Normalized
5,842
2,887
Prepared
1,219
2,887
Aligned
1,218
1,218
Invalid removed
R²(i)
23.2%
Variance explained
Significance
p < 0.001
Statistical confidence
Data points
1,218
Deep
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: -12 to 12 weeks.
Selected shift
No shift
Correlation at this shift
-48%
No shift — both series at their actual dates.
1,218 overlapping points at this shift
Baseline
-48%
No-shift correlation, matching the main time-series chart above.
Peak shift
No shift
-48%
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
+21%
43 periods · Return correlation when both series rose
Both Falling
+44%
55 periods · Return correlation when both series fell
Diverging
-66%
151 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
1,670
A: 1 / B: 1669
Series A
10Y Breakeven Inflation
T10YIE
FRED · 5,842 raw → 1,219 prepared
Series B
Chicago Financial Conditions
NFCI
FRED · 2,887 raw → 2,887 prepared
Sign agreement
10.0%
How often both values share the same sign.
Zero crossings
35
Estimated crossover points between normalized spreads.
Slope
-0.6710
Linear regression slope.
Intercept
1.0552
Linear regression intercept.
Saved 2 days ago · ID: fred-nfci_fred-t10yie_weekly_5y