Loading market view
Loading market view
Loading correlations
PROTO LABS, INC. (PRLB) vs ICE BofA US High Yield Index Effective Yield
Correlation
of % moves
-37%
In sync
of periods
34%
History
daysdays · through 2026-07-30
752
These move in the same direction about 34% of the time
Their swing sizes only faintly mirror each other (~14% of the pattern is shared).
Strong enough to use as a signal — check the stability and regime notes below before relying on it.
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
Unusual right now
Recently looser than usual — the pair is behaving differently than its long-run pattern.
Holds in both up and down markets
The relationship is similar whether prices are rising or falling — reliable in both directions.
Rock solid
The relationship barely changes from period to period — treat it as a reliable signal.
Advanced
Statistics
In sync(i)
34%
Headline metric
Movement correlation(i)
-37%
Based on % moves
95% CI
-43% → -31%
Likely range of correlation
Pipeline
Pipeline Summary
752 paired data points survived the daily window.
Raw input
1,253
787
Normalized
1,253
787
Prepared
1,253
787
Aligned
752
752
Invalid removed
R²(i)
14%
Variance explained
Significance
p < 0.001
Statistical confidence
Data points(i)
751
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: -6 to 6 days.
Selected shift
No shift
Correlation at this shift
-37%
No shift — both series at their actual dates.
751 overlapping points at this shift
Baseline
-37%
No-shift correlation, matching the main time-series chart above.
Peak shift
No shift
-37%
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
+29%
35 periods · Return correlation when both series rose
Both Falling
-32%
37 periods · Return correlation when both series fell
Diverging
-62%
169 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
536
A: 501 / B: 35
Series A
PROTO LABS, INC. (PRLB)
PRLB
Stock · 1,253 raw → 1,253 prepared
Series B
ICE BofA US High Yield Index Effective Yield
BAMLH0A0HYM2EY
FRED · 787 raw → 787 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
9
Estimated crossover points between normalized spreads.
Slope
-0.1282
Linear regression slope.
Intercept
-0.0000
Linear regression intercept.
Saved 3 months ago · ID: fred-bamlh0a0hym2ey_stock-prlb_daily_5y