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Correlation
of values
+57%
In sync
of periods
47%
History
monthsmonths · through 2026-07
180
These move in the same direction about 47% of the time
Their swing sizes loosely line up (~33% 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
Decouples in drawdowns
The relationship weakens when both prices are falling — don't count on this pair as a hedge under stress.
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)
47%
Headline metric
Movement correlation(i)
+57%
Based on values
95% CI
+46% → +66%
Likely range of correlation
Pipeline
Pipeline Summary
180 paired data points survived the monthly window.
Raw input
3,321
1,363
Normalized
3,321
1,363
Prepared
182
1,363
Aligned
180
180
Invalid removed
R²(i)
33%
Variance explained
Significance
p < 0.001
Statistical confidence
Data points(i)
180
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
+57%
No shift — both series at their actual dates.
180 overlapping points at this shift
Baseline
+57%
No-shift correlation, matching the main time-series chart above.
Peak shift
No shift
+57%
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
+38%
43 periods · Return correlation when both series rose
Both Falling
-7%
33 periods · Return correlation when both series fell
Diverging
-31%
88 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
1,185
A: 2 / B: 1183
Series A
Overnight Reverse Repo
RRPONTSYD
FRED · 3,321 raw → 182 prepared
Series B
PPI: All Commodities
PPIACO
FRED · 1,363 raw → 1,363 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
2
Estimated crossover points between normalized spreads.
Slope
0.0301
Linear regression slope.
Intercept
204.4245
Linear regression intercept.
Saved 4 months ago · ID: fred-ppiaco_fred-rrpontsyd_monthly_5y