SeriesMagCorrOverlapThrough
These move opposite each other about 50% of the time
Strong inverse
Strong enough to use as a signal — read the stability and regime notes below before relying on it.
ServiceNow Inc provides software solutions to structure and automate various business processes via a SaaS delivery model. The company primarily focuses on the IT function for enterprise customers. ServiceNow began with IT service management, expanded within the IT function, and more recently directed its workflow automation logic to functional areas beyond IT, notably customer service, HR service delivery, and security operations. ServiceNow also offers an application development platform as a service.
Market cap 93.3B · 29,187 employees
Overnight Reverse Repo
RRPONTSYD
What to Watch
Unusual right now
Recent correlation (+54%) is 3.0σ from the long-run average of -76% — pair is behaving differently than usual.
Tighter in drawdowns
Pair moves more tightly when both fall (-36%) than when both rise (-11%) — typical risk-off behaviour.
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
-76%
No shift — both series at their actual dates.
1,246 overlapping points at this shift
Time series with Overnight Reverse Repo 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
-76%
Pearson correlation
95% CI
-78% → -74%
Likely range
R²
58.0%
Variance explained
Trend agreement
50.4%
Same-direction moves
Significance
p < 0.001
Statistical confidence
Data points
1,246
Deep
Pipeline
Pipeline Summary
1,246 paired data points survived the daily window.
Raw input
1,255
3,233
Normalized
1,255
3,233
Prepared
1,255
3,233
Aligned
1,246
1,246
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
-11%
70 periods · Return correlation when both series rose
Both Falling
-36%
69 periods · Return correlation when both series fell
Diverging
-57%
110 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
1,996
A: 9 / B: 1987
Series A
SERVICENOW, INC.
NOW
Market cap 93.3B · 29,187 employees
Stock · 1,255 raw → 1,255 prepared
Series B
RRPONTSYD
FRED · 3,233 raw → 3,233 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
8
Estimated crossover points between normalized spreads.
Slope
-16.0956
Linear regression slope.
Intercept
3142.1904
Linear regression intercept.
Saved 1 hour ago · ID: fred-rrpontsyd_stock-now_5y
RRPONTSYD
Overnight Reverse Repo
Strongest positive