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Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF) vs Bank Reserves
Correlation
of % moves
+35%
In sync
of periods
55%
History
monthsmonths · through 2026-07
59
These move in the same direction about 55% of the time
Their swing sizes only faintly line up (~12% of the pattern is shared).
A faint pattern — interesting as colour, not strong enough to act on alone.
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.
Tighter in drawdowns
The relationship is stronger when both prices are falling than when both are rising — typical risk-off behaviour.
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)
55%
Headline metric
Movement correlation(i)
+35%
Based on % moves
95% CI
+10% → +56%
Likely range of correlation
Pipeline
Pipeline Summary
59 paired data points survived the monthly window.
Raw input
1,254
811
Normalized
1,254
811
Prepared
61
811
Aligned
59
59
Invalid removed
R²(i)
12%
Variance explained
Significance
p < 0.01
Statistical confidence
Data points(i)
58
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
No shift
Correlation at this shift
+35%
No shift — both series at their actual dates.
58 overlapping points at this shift
Baseline
+35%
No-shift correlation, matching the main time-series chart above.
Peak shift
No shift
+35%
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
-35%
13 periods · Return correlation when both series rose
Both Falling
+79%
19 periods · Return correlation when both series fell
Diverging
-51%
26 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
754
A: 2 / B: 752
Series A
Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF)
TMF
Stock · 1,254 raw → 61 prepared
Series B
Bank Reserves
TOTRESNS
FRED · 811 raw → 811 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
7
Estimated crossover points between normalized spreads.
Slope
0.0994
Linear regression slope.
Intercept
-0.0018
Linear regression intercept.
Saved 4 months ago · ID: fred-totresns_stock-tmf_monthly_5y