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Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF) vs Fed Funds Rate
Correlation
of % moves
-26%
In sync
of periods
48%
History
monthsmonths · through 2026-04
59
These move in the same direction about 48% of the time
Their swing sizes only faintly mirror each other (~7% 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
Slipping tighter
The recent pattern is tighter than its long-run baseline — keep an eye on whether this sticks.
TMF moves ~2 months before Fed Funds Rate
Watch TMF for an early read on Fed Funds Rate.
Holds in both up and down markets
The relationship is similar whether prices are rising or falling — reliable in both directions.
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)
48.4%
Headline metric
Movement correlation(i)
-26%
Based on % moves
95% CI
-48% → +0%
Likely range of correlation
Pipeline
Pipeline Summary
59 paired data points survived the monthly window.
Raw input
1,254
862
Normalized
1,254
862
Prepared
60
862
Aligned
59
59
Invalid removed
R²(i)
6.6%
Variance explained
Significance
n.s.
Statistical confidence
Data points
59
Thin
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
+2 months
Correlation at this shift
-39%
+13% stronger than no-shift baseline
Fed Funds Rate shifted 2 months earlier. Reads: "Does Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF) today line up with Fed Funds Rate 2 months from now?"
56 overlapping points at this shift
Baseline
-26%
No-shift correlation, matching the main time-series chart above.
Peak shift
+2 months
-39%
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
-42%
7 periods · Return correlation when both series rose
Both Falling
+55%
8 periods · Return correlation when both series fell
Diverging
-39%
43 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
804
A: 1 / B: 803
Series A
Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF)
TMF
Stock · 1,254 raw → 60 prepared
Series B
Fed Funds Rate
FEDFUNDS
FRED · 862 raw → 862 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
1
Estimated crossover points between normalized spreads.
Slope
-0.4782
Linear regression slope.
Intercept
0.0498
Linear regression intercept.
Saved 3 weeks ago · ID: fred-fedfunds_stock-tmf_monthly_5y