SeriesMagCorrOverlapThrough
These move opposite each other about 59% of the time
Moderate inverse
A real but noisy link — useful as context, risky as a standalone signal.
PepsiCo is a global leader in snacks and beverages, owning well-known household brands including Pepsi, Mountain Dew, Gatorade, Lay's, Cheetos, and Doritos, among others. The company dominates the global savory snacks market and also ranks as the second-largest beverage provider in the world (behind Coca-Cola) with diversified exposure to carbonated soft drinks, or CSD, as well as water, sports, and energy drink offerings. Convenience foods account for approximately 58% of its total revenue, with beverages making up the rest. Pepsi owns the bulk of its manufacturing and distribution capacity in the US, but uses bottlers overseas for beverages. International markets made up 41% of total sales
Market cap 210.6B · 306,000 employees
Vanguard FTSE Developed Markets ETF
VEA
What to Watch
Unusual right now
Recent correlation (+57%) is 3.3σ from the long-run average of -58% — pair is behaving differently than usual.
Tighter in drawdowns
Pair moves more tightly when both fall (+41%) than when both rise (+11%) — typical risk-off behaviour.
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: -6 to 6 days.
Selected shift
No shift
Correlation at this shift
-58%
No shift — both series at their actual dates.
1,255 overlapping points at this shift
Time series with Vanguard FTSE Developed Markets ETF at original dates
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
-58%
Pearson correlation
95% CI
-61% → -54%
Likely range
R²
33.1%
Variance explained
Trend agreement
59.0%
Same-direction moves
Significance
p < 0.001
Statistical confidence
Data points
1,255
Deep
Pipeline
Pipeline Summary
1,255 paired data points survived the daily window.
Raw input
1,255
1,255
Normalized
1,255
1,255
Prepared
1,255
1,255
Aligned
1,255
1,255
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%
101 periods · Return correlation when both series rose
Both Falling
+41%
84 periods · Return correlation when both series fell
Diverging
-61%
64 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
0
A: 0 / B: 0
Series A
PepsiCo, Inc.
PEP
Market cap 210.6B · 306,000 employees
Stock · 1,255 raw → 1,255 prepared
Series B
Vanguard FTSE Developed Markets ETF
VEA
Stock · 1,255 raw → 1,255 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
24
Estimated crossover points between normalized spreads.
Slope
-0.2737
Linear regression slope.
Intercept
95.0100
Linear regression intercept.
Saved 58 minutes ago · ID: stock-pep_stock-vea_5y
VEA
Vanguard FTSE Developed Markets ETF
Strongest positive