Correlation
of % moves
-48%
In sync
of periods
46%
History
weeksweeks · through 2026-17
69
These move opposite each other about 46% of the time
Their swing sizes loosely mirror each other (~23% of the pattern is shared).
Roughly random — these don't track each other in a meaningful way.
Both lines start at the same point — easy to compare when growth rates are similar.
What to Watch
Unusual right now
Recently looser than usual — the pair is behaving differently than its long-run pattern.
Tighter in drawdowns
The relationship is stronger when both prices are falling than when both are rising — typical risk-off behaviour.
Rock solid
The relationship barely changes from period to period — treat it as a reliable signal.
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Advanced
Statistics
Approximate (legacy record)In sync(i)
45.6%
Headline metric
Movement correlation(i)
-48%
Based on % moves
95% CI
N/A
Likely range
Pipeline
Pipeline Summary
69 paired data points survived the weekly window.
Raw input
337
1,687
Normalized
337
1,687
Prepared
71
1,687
Aligned
69
69
Invalid removed
R²(i)
23.0%
Variance explained
Significance
N/A
Statistical confidence
Data points
69
Thin
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.
68 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
-10%
19 periods · Return correlation when both series rose
Both Falling
+65%
12 periods · Return correlation when both series fell
Diverging
-64%
37 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
1,620
A: 2 / B: 1618
Series A
ONC
Stock · 337 raw → 71 prepared
Series B
St. Louis Financial Stress Index
STLFSI4
FRED · 1,687 raw → 1,687 prepared
Sign agreement
2.9%
How often both values share the same sign.
Zero crossings
3
Estimated crossover points between normalized spreads.
Slope
-1.8837
Linear regression slope.
Intercept
0.0407
Linear regression intercept.
Saved 4 days ago · ID: fred-stlfsi4_stock-onc_5y
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Top 10 by absolute correlation
Ranked across both sides of this comparison using the same dense row format as the single-symbol correlations view.