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NetApp, Inc (NTAP) vs Initial Jobless Claims
Correlation
of % moves
+13%
In sync
of periods
58%
History
weeksweeks · through 2026-35
259
These move in the same direction about 58% of the time
Their swing sizes only faintly line up (~2% 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
Initial Jobless Claims moves ~1 week before NTAP
Watch Initial Jobless Claims for an early read on NTAP.
Holds in both up and down markets
The relationship is similar whether prices are rising or falling — reliable in both directions.
Mostly stable
The relationship drifts a little but stays in the same neighbourhood.
Advanced
Statistics
In sync(i)
58%
Headline metric
Movement correlation(i)
+13%
Based on % moves
95% CI
+1% → +25%
Likely range of correlation
Pipeline
Pipeline Summary
259 paired data points survived the weekly window.
Raw input
1,253
3,113
Normalized
1,253
3,113
Prepared
261
3,113
Aligned
259
259
Invalid removed
R²(i)
2%
Variance explained
Significance
p < 0.05
Statistical confidence
Data points(i)
258
Robust
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
-1 week
Correlation at this shift
+19%
+6% stronger than no-shift baseline
Initial Jobless Claims shifted 1 week later. Reads: "Does NetApp, Inc (NTAP) today line up with Initial Jobless Claims 1 week ago?"
257 overlapping points at this shift
Baseline
+13%
No-shift correlation, matching the main time-series chart above.
Peak shift
-1 week
+19%
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
-7%
68 periods · Return correlation when both series rose
Both Falling
-16%
64 periods · Return correlation when both series fell
Diverging
-39%
108 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
2,856
A: 2 / B: 2854
Series A
NetApp, Inc (NTAP)
NTAP
Stock · 1,253 raw → 261 prepared
Series B
Initial Jobless Claims
ICSA
FRED · 3,113 raw → 3,113 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
57
Estimated crossover points between normalized spreads.
Slope
0.1538
Linear regression slope.
Intercept
-0.0027
Linear regression intercept.
Saved 4 months ago · ID: fred-icsa_stock-ntap_weekly_5y