SeriesMagCorrOverlapThrough
These move opposite each other about 37% of the time
Strong inverse
Strong enough to use as a signal — read the stability and regime notes below before relying on it.
Qualcomm develops and licenses wireless technology and designs chips for smartphones. The company's key patents revolve around CDMA and OFDMA technologies, which are standards in wireless communications that are the backbone of all 3G, 4G, and 5G networks. Qualcomm's IP is licensed by virtually all wireless device makers. The firm is also the world's largest wireless chip vendor, supplying nearly every premier handset maker with leading-edge processors. Qualcomm also sells RF-front end modules into smartphones, as well as chips into automotive and Internet of Things markets.
Market cap 160.3B · 52,000 employees
HY Bond Spread
BAMLH0A0HYM2
What to Watch
Holds across regimes
Correlation is similar when markets rise (-22%) and fall (-12%) — reliable in both directions.
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
-71%
No shift — both series at their actual dates.
752 overlapping points at this shift
Time series with HY Bond Spread 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
-71%
Pearson correlation
95% CI
-74% → -67%
Likely range
R²
50.2%
Variance explained
Trend agreement
37.3%
Same-direction moves
Significance
p < 0.001
Statistical confidence
Data points
752
Deep
Pipeline
Pipeline Summary
752 paired data points survived the daily window.
Raw input
1,255
786
Normalized
1,255
786
Prepared
1,255
786
Aligned
752
752
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
-22%
35 periods · Return correlation when both series rose
Both Falling
-12%
44 periods · Return correlation when both series fell
Diverging
-68%
170 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
537
A: 503 / B: 34
Series A
Qualcomm Inc
QCOM
Market cap 160.3B · 52,000 employees
Stock · 1,255 raw → 1,255 prepared
Series B
BAMLH0A0HYM2
FRED · 786 raw → 786 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
25
Estimated crossover points between normalized spreads.
Slope
-0.0151
Linear regression slope.
Intercept
5.6108
Linear regression intercept.
Saved 2 hours ago · ID: fred-bamlh0a0hym2_stock-qcom_5y
BAMLH0A0HYM2
HY Bond Spread
Strongest positive