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.

Indosat (ISAT.JK) against…

Series	1M	3M ↓	1Y	n 1Y	3Y	3M − 3Y	Beta 1Y
JCI (IHSG) jci	−0.10	0.33	0.42	225	0.42	−0.09	0.86	scatter
PHLX Semiconductor (SOX) sox	−0.08	0.31	0.04	224	0.09	+0.22	0.05	scatter
Telkom (TLKM.JK) TLKM.JK	0.01	0.31	0.47	245	0.46	−0.15	0.57	scatter
Gold gold	−0.09	0.30	0.04	224	0.05	+0.25	0.08	scatter
LQ45 lq45	−0.08	0.30	0.44	225	0.42	−0.13	0.86	scatter
Nasdaq 100 ndx	−0.18	0.30	0.09	224	0.06	+0.24	0.24	scatter
UST 2YR ust2y	−0.12	−0.29	−0.14	224	−0.03	−0.26	−0.10	scatter
UST 10YR ust10y	0.14	−0.28	−0.13	224	0.01	−0.29 ⇄	−0.10	scatter
Emtek (EMTK.JK) EMTK.JK	0.02	0.27	0.21	244	0.13	+0.14	0.17	scatter
USD/IDR usdidr	0.33	0.27	−0.06	230	−0.08	+0.35 ⇄	−0.41	scatter
DXY dxy	0.06	−0.25	−0.17	224	−0.06	−0.19	−1.76	scatter
S&P 500 spx	−0.33	0.25	0.11	224	0.04	+0.21	0.45	scatter
DCI Indonesia (DCII.JK) DCII.JK	0.19	0.24	0.21	244	0.09	+0.15	0.30	scatter
Solusi Sinergi Digital (WIFI.JK) WIFI.JK	0.11	0.22	0.22	244	−0.04	+0.26 ⇄	0.16	scatter
Bukalapak (BUKA.JK) BUKA.JK	−0.18	0.15	0.17	244	0.07	+0.08	0.21	scatter
Bitcoin btc	−0.38	0.12	0.09	231	0.11	+0.01	0.11	scatter
Sarana Menara (TOWR.JK) TOWR.JK	0.08	0.07	0.26	244	0.21	−0.15	0.35	scatter
INDOGB 10YR id10y	−0.45	−0.05	−0.12	216	−0.13	+0.08	−0.05	scatter
Brent brent	0.23	−0.04	−0.05	224	−0.01	−0.03	−0.05	scatter
Metrodata (MTDL.JK) MTDL.JK	0.01	−0.02	0.24	245	0.26	−0.28 ⇄	0.50	scatter
Copper copper	0.15	0.01	0.01	224	0.02	−0.01	0.01	scatter
GoTo (GOTO.JK) GOTO.JK	–	–	0.03	244	0.08	–	0.04	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 Indosat (ISAT.JK) 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 ↓

Indosat (ISAT.JK) · 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	−0.01	0.06	0.07	−0.07	−0.02	0.04	0.00	0.00	0.04	−0.04	0.42	−0.02	−0.04	0.06	−0.12	−0.11	0.03	−0.07	0.00	0.11	−0.02

Lag +k: today's change in Indosat (ISAT.JK) 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.