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.

Harita Nickel (NCKL) against…

Series	1M	3M ↓	1Y	n 1Y	3Y	3M − 3Y	Beta 1Y
JCI (IHSG) jci	0.93	0.83	0.59	240	0.47	+0.36	1.22	scatter
LQ45 lq45	0.92	0.81	0.56	240	0.45	+0.36	1.08	scatter
Emtek (EMTK.JK) EMTK.JK	0.81	0.55	0.34	229	0.20	+0.35	0.31	scatter
Solusi Sinergi Digital (WIFI.JK) WIFI.JK	0.65	0.47	0.39	229	0.15	+0.32	0.32	scatter
Sarana Menara (TOWR.JK) TOWR.JK	0.65	0.43	0.30	229	0.18	+0.25	0.43	scatter
Nasdaq 100 ndx	0.50	0.43	0.09	238	0.06	+0.37	0.24	scatter
Bukalapak (BUKA.JK) BUKA.JK	0.75	0.42	0.30	229	0.23	+0.19	0.41	scatter
PHLX Semiconductor (SOX) sox	0.38	0.40	0.08	238	0.07	+0.32	0.10	scatter
Indosat (ISAT.JK) ISAT.JK	−0.07	0.31	0.21	229	0.18	+0.12	0.23	scatter
S&P 500 spx	0.40	0.30	0.08	238	0.02	+0.28	0.34	scatter
Copper copper	0.08	0.30	0.20	238	0.02	+0.28	0.43	scatter
USD/IDR usdidr	−0.37	−0.23	−0.09	244	−0.10	−0.13	−0.65	scatter
Bitcoin btc	0.02	0.22	0.06	243	0.06	+0.16	0.08	scatter
Metrodata (MTDL.JK) MTDL.JK	0.40	0.17	0.31	229	0.25	−0.08	0.71	scatter
DXY dxy	0.15	−0.12	−0.17	238	−0.11	−0.01	−1.87	scatter
Gold gold	−0.01	0.12	0.29	238	0.27	−0.16	0.59	scatter
Brent brent	−0.36	−0.11	−0.20	238	−0.12	+0.01	−0.22	scatter
UST 2YR ust2y	0.08	−0.09	−0.04	235	−0.07	−0.02	−0.03	scatter
UST 10YR ust10y	−0.02	−0.08	−0.06	235	−0.07	0.00	−0.05	scatter
INDOGB 10YR id10y	−0.54	−0.07	−0.19	205	−0.16	+0.09	−0.09	scatter
DCI Indonesia (DCII.JK) DCII.JK	−0.17	0.04	0.10	229	0.05	−0.01	0.14	scatter
GoTo (GOTO.JK) GOTO.JK	–	–	0.16	229	0.17	–	0.26	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 Harita Nickel (NCKL) 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 ↓

Harita Nickel (NCKL) · 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	−0.08	0.00	0.02	−0.13	−0.01	0.07	−0.04	0.14	0.06	−0.01	0.59	0.08	−0.01	−0.03	0.12	−0.11	0.02	−0.05	0.05	−0.01	0.04

Lag +k: today's change in Harita Nickel (NCKL) 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.