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Correlation
of values
+45%
In sync
of periods
44%
History
monthsmonths · through 2026-04
170
These move in the same direction about 44% of the time
Their swing sizes loosely line up (~20% of the pattern is shared).
Roughly random — these don't track each other in a meaningful way.
On a log scale so equal % moves take equal vertical space — best when one series has grown much faster than the other.
What to Watch
Slipping looser
The recent pattern is looser than its long-run baseline — keep an eye on whether this sticks.
Overnight Reverse Repo moves ~18 months before Real Personal Consumption
Watch Overnight Reverse Repo for an early read on Real Personal Consumption.
Tighter in drawdowns
The relationship is stronger when both prices are falling than when both are rising — typical risk-off behaviour.
Flips between sync and inverse
Sometimes the two move together, sometimes opposite. Don't treat this as a stable signal.
Advanced
Statistics
In sync(i)
43.9%
Headline metric
Movement correlation(i)
+45%
Based on values
95% CI
+32% → +56%
Likely range of correlation
Pipeline
Pipeline Summary
170 paired data points survived the monthly window.
Raw input
232
3,258
Normalized
232
3,258
Prepared
232
179
Aligned
170
170
Invalid removed
R²(i)
19.9%
Variance explained
Significance
p < 0.001
Statistical confidence
Data points
170
Usable
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
-18 months
Correlation at this shift
+64%
+19% stronger than no-shift baseline
Overnight Reverse Repo shifted 18 months later. Reads: "Does Real Personal Consumption today line up with Overnight Reverse Repo 18 months ago?"
135 overlapping points at this shift
Baseline
+45%
No-shift correlation, matching the main time-series chart above.
Peak shift
-18 months
+64%
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
+3%
58 periods · Return correlation when both series rose
Both Falling
-25%
11 periods · Return correlation when both series fell
Diverging
-15%
88 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
71
A: 62 / B: 9
Series A
Real Personal Consumption
PCEC96
FRED · 232 raw → 232 prepared
Series B
Overnight Reverse Repo
RRPONTSYD
FRED · 3,258 raw → 179 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
5
Estimated crossover points between normalized spreads.
Slope
0.1848
Linear regression slope.
Intercept
-2187.3859
Linear regression intercept.
Saved last month · ID: fred-pcec96_fred-rrpontsyd_monthly_5y