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iShares Silver Trust (SLV) vs USD/CNY Exchange Rate
Correlation
of % moves
-24%
In sync
of periods
41%
History
daysdays · through 2026-07-02
1,239
These move in the same direction about 41% of the time
Their swing sizes only faintly mirror each other (~6% of the pattern is shared).
A real but noisy link — useful as context, risky as a standalone signal.
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.
Advanced
Statistics
In sync(i)
41%
Headline metric
Movement correlation(i)
-24%
Based on % moves
95% CI
N/A
Likely range
Pipeline
Pipeline Summary
1,239 paired data points survived the daily window.
Raw input
1,254
11,357
Normalized
1,254
11,357
Prepared
1,254
11,357
Aligned
1,239
1,239
Invalid removed
6%
Variance explained
Significance
N/A
Statistical confidence
Data points(i)
1,238
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
-24%
No shift — both series at their actual dates.
1,238 overlapping points at this shift
Baseline
-24%
No-shift correlation, matching the main time-series chart above.
Peak shift
No shift
-24%
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
-34%
28 periods · Return correlation when both series rose
Both Falling
-13%
17 periods · Return correlation when both series fell
Diverging
-28%
99 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
10,133
A: 15 / B: 10118
Series A
iShares Silver Trust (SLV)
SLV
Stock · 1,254 raw → 1,254 prepared
Series B
USD/CNY Exchange Rate
DEXCHUS
FRED · 11,357 raw → 11,357 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
13
Estimated crossover points between normalized spreads.
Slope
-0.0256
Linear regression slope.
Intercept
0.0001
Linear regression intercept.
Saved 3 months ago · ID: fred-dexchus_stock-slv_daily_5y