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Correlation
of values
+81%
In sync
of periods
55%
History
monthsmonths · through 2026-05
965
These move in the same direction about 55% of the time
When one swings, the other often swings by a similar amount (~65% of the pattern is shared).
A faint pattern — interesting as colour, not strong enough to act on alone.
On a log scale so equal % moves take equal vertical space — best when one series has grown much faster than the other.
Advanced
Statistics
In sync(i)
55.2%
Headline metric
Movement correlation(i)
+81%
Based on values
95% CI
+79% → +83%
Pipeline
Pipeline Summary
965 paired data points survived the monthly window.
Raw input
1,049
965
Normalized
1,049
965
Prepared
1,049
965
Aligned
965
965
Invalid removed
Likely range of correlation
R²(i)
65.3%
Variance explained
Significance
p < 0.001
Statistical confidence
Data points
965
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: -18 to 18 months.
Selected shift
No shift
Correlation at this shift
+81%
No shift — both series at their actual dates.
965 overlapping points at this shift
Baseline
+81%
No-shift correlation, matching the main time-series chart above.
Peak shift
No shift
+81%
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
N/A
4 periods · Return correlation when both series rose
Both Falling
N/A
2 periods · Return correlation when both series fell
Diverging
-16%
12 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
84
A: 84 / B: 0
Series A
Nonfarm Payrolls
PAYEMS
FRED · 1,049 raw → 1,049 prepared
Series B
Spot Crude Oil Price: West Texas Intermediate
WTISPLC
FRED · 965 raw → 965 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
1
Estimated crossover points between normalized spreads.
Slope
0.0007
Linear regression slope.
Intercept
-35.8377
Linear regression intercept.
Saved last month · ID: fred-payems_fred-wtisplc_monthly_5y