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Correlation
of values
-65%
In sync
of periods
43%
History
monthsmonths · through 2026-05
232
These move in the same direction about 43% of the time
When one swings, the other often swings by a similar amount in the opposite direction (~42% 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.
What to Watch
Holds in both up and down markets
The relationship is similar whether prices are rising or falling — reliable in both directions.
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%
Headline metric
Movement correlation(i)
-65%
Based on values
95% CI
N/A
Likely range
Pipeline
Pipeline Summary
232 paired data points survived the monthly window.
Raw input
941
233
Normalized
941
233
Prepared
941
233
Aligned
232
232
Invalid removed
42%
Variance explained
Significance
N/A
Statistical confidence
Data points(i)
232
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
No shift
Correlation at this shift
-65%
No shift — both series at their actual dates.
232 overlapping points at this shift
Baseline
-65%
No-shift correlation, matching the main time-series chart above.
Peak shift
No shift
-65%
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%
51 periods · Return correlation when both series rose
Both Falling
+1%
24 periods · Return correlation when both series fell
Diverging
-79%
155 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
710
A: 709 / B: 1
Series A
Unemployment Rate
UNRATE
FRED · 941 raw → 941 prepared
Series B
Real Personal Consumption
PCEC96
FRED · 233 raw → 233 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
3
Estimated crossover points between normalized spreads.
Slope
-528.5358
Linear regression slope.
Intercept
16324.9367
Linear regression intercept.
Saved 3 months ago · ID: fred-pcec96_fred-unrate_monthly_5y