SeriesMagCorrOverlapThrough
These move together about 46% of the time
Moderate positive
A real but noisy link — useful as context, risky as a standalone signal.
Realty Income owns roughly 15,500 properties, most of which are freestanding, single-tenant, triple-net-leased retail properties. Its properties are located in 49 states and Puerto Rico and are leased to 250 tenants from 47 industries. Recent acquisitions have added industrial, gaming, office, manufacturing, and distribution properties, which make up roughly 20% of revenue.
Market cap 58.5B · 544 employees
Fed Balance Sheet
WALCL
What to Watch
Drifting from pattern
Recent correlation (-35%) is running 1.5σ away from the long-run average of +59%.
O moves ~12 weeks before Fed Balance Sheet
Watch O for an early read on Fed Balance Sheet.
Holds across regimes
Correlation is similar when markets rise (-11%) and fall (+17%) — reliable in both directions.
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: -12 to 12 weeks.
Selected shift
+12 weeks
Correlation at this shift
+75%
+16% stronger than no-shift baseline
Fed Balance Sheet shifted 12 weeks earlier. Reads: "Does Realty Income Corporation today line up with Fed Balance Sheet 12 weeks from now?"
249 overlapping points at this shift
Time series with Fed Balance Sheet shifted 12 weeks earlier
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
+59%
Pearson correlation
95% CI
+51% → +67%
Likely range
R²
35.4%
Variance explained
Trend agreement
46.2%
Same-direction moves
Significance
p < 0.001
Statistical confidence
Data points
261
Robust
Pipeline
Pipeline Summary
261 paired data points survived the weekly window.
Raw input
1,255
1,220
Normalized
1,255
1,220
Prepared
261
1,220
Aligned
261
261
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%
48 periods · Return correlation when both series rose
Both Falling
+17%
66 periods · Return correlation when both series fell
Diverging
-44%
135 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
959
A: 0 / B: 959
Series A
Realty Income Corporation
O
Market cap 58.5B · 544 employees
Stock · 1,255 raw → 261 prepared
Series B
WALCL
FRED · 1,220 raw → 1,220 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
1
Estimated crossover points between normalized spreads.
Slope
82769.0666
Linear regression slope.
Intercept
2683058.8565
Linear regression intercept.
Saved 1 hour ago · ID: fred-walcl_stock-o_5y