Relationship Lab

How a series has moved with others: the correlation of daily changes (% for prices, bp for rates) over 1 and 3 years, the beta, a rolling correlation and whether one tends to move first. Correlation is not causation, and it changes over time.

Antam (ANTM) against…

Series	1M	3M ↓	1Y	n 1Y	3Y	3M − 3Y	Beta 1Y
JCI (IHSG) jci	0.93	0.78	0.60	240	0.45	+0.34	1.22	scatter
LQ45 lq45	0.89	0.72	0.58	240	0.42	+0.30	1.09	scatter
Solusi Sinergi Digital (WIFI.JK) WIFI.JK	0.81	0.42	0.23	229	0.08	+0.34	0.19	scatter
INDOGB 10YR id10y	−0.67	−0.40	−0.38	205	−0.35	−0.05	−0.17	scatter
DCI Indonesia (DCII.JK) DCII.JK	0.57	0.38	0.19	229	0.00	+0.38 ⇄	0.26	scatter
USD/IDR usdidr	−0.46	−0.35	−0.05	245	−0.10	−0.26	−0.32	scatter
Gold gold	0.07	0.31	0.25	239	0.25	+0.06	0.50	scatter
Emtek (EMTK.JK) EMTK.JK	0.20	0.31	0.28	229	0.14	+0.17	0.25	scatter
PHLX Semiconductor (SOX) sox	0.43	0.29	0.06	239	0.11	+0.19	0.08	scatter
Nasdaq 100 ndx	0.49	0.28	0.09	239	0.11	+0.17	0.27	scatter
UST 10YR ust10y	0.39	0.27	0.00	236	0.03	+0.25	0.00	scatter
S&P 500 spx	0.38	0.20	0.12	239	0.11	+0.09	0.53	scatter
Sarana Menara (TOWR.JK) TOWR.JK	0.03	0.16	0.35	229	0.21	−0.05	0.48	scatter
Bukalapak (BUKA.JK) BUKA.JK	0.06	0.15	0.31	229	0.16	−0.01	0.40	scatter
UST 2YR ust2y	0.18	0.13	0.00	236	0.04	+0.10	0.00	scatter
Indosat (ISAT.JK) ISAT.JK	0.15	0.12	0.12	230	0.10	+0.02	0.13	scatter
Copper copper	0.12	0.12	0.12	239	0.11	+0.01	0.25	scatter
Metrodata (MTDL.JK) MTDL.JK	−0.35	0.12	0.19	230	0.09	+0.02	0.42	scatter
Bitcoin btc	0.05	0.11	0.03	244	0.01	+0.10	0.04	scatter
DXY dxy	−0.01	−0.10	−0.16	239	−0.18	+0.09	−1.71	scatter
Brent brent	−0.30	0.01	−0.14	239	−0.08	+0.09 ⇄	−0.14	scatter
GoTo (GOTO.JK) GOTO.JK	–	–	0.11	229	−0.01	–	0.17	scatter
Newcastle coal coal	–	–	–	0	–	–	–	scatter

Compared with the headline cross-asset series and the series in the same catalog category and country. Changes are matched on common dates. Beta = change in Antam (ANTM) per unit change in the other series (least squares, 1 year). Amber: fewer than 20 common changes (hover a value for its n). Stability: the 3-month correlation minus the 3-year one; ⇄ marks opposite signs. A change in correlation describes the past; it does not say the relationship has broken or will return. Data ↓

Antam (ANTM) · JCI (IHSG)

20 60 120 252

Rolling correlation of daily changes over the last 60 common readings, last 3 years.

Who moves first? (1 year)

Lag (readings)	-10	-9	-8	-7	-6	-5	-4	-3	-2	-1	+0	+1	+2	+3	+4	+5	+6	+7	+8	+9	+10
correlation	−0.04	0.03	−0.05	−0.09	0.06	0.02	0.07	0.17	0.06	−0.06	0.60	0.01	−0.05	0.10	0.05	−0.09	0.06	−0.02	−0.08	−0.09	−0.07

Lag +k: today's change in Antam (ANTM) against the change in JCI (IHSG) k readings later (positive = the first one leads). A peak away from 0 is a description of the past year only.