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.

Constellation (CEG) against…

Series	1M	3M	1Y	n 1Y	3Y ↓	3M − 3Y	Beta 1Y
Eaton (ETN) ETN	0.54	0.44	0.40	250	0.56	−0.12	0.48	scatter
PHLX Semiconductor (SOX) sox	0.48	0.49	0.41	240	0.48	+0.01	0.43	scatter
Nasdaq 100 ndx	0.68	0.36	0.38	240	0.47	−0.11	0.89	scatter
Arista (ANET) ANET	0.34	0.28	0.33	250	0.47	−0.19	0.29	scatter
S&P 500 spx	0.66	0.30	0.36	240	0.45	−0.15	1.31	scatter
Dell (DELL) DELL	0.43	0.35	0.21	250	0.43	−0.08	0.13	scatter
Ciena (CIEN) CIEN	0.35	0.37	0.39	250	0.40	−0.03	0.26	scatter
Coherent (COHR) COHR	0.47	0.40	0.36	250	0.38	+0.02	0.20	scatter
Digital Realty (DLR) DLR	0.56	0.37	0.35	250	0.36	+0.01	0.61	scatter
Equinix (EQIX) EQIX	0.32	0.32	0.24	250	0.25	+0.07	0.45	scatter
Copper copper	0.39	0.29	0.23	240	0.22	+0.07	0.40	scatter
Gold gold	0.11	0.26	0.14	240	0.19	+0.06	0.23	scatter
CoreWeave (CRWV) CRWV	0.40	0.46	0.27	250	0.19	+0.27	0.13	scatter
Bitcoin btc	0.20	0.04	0.20	239	0.18	−0.13	0.21	scatter
Brent brent	−0.46	0.00	−0.11	240	0.09	−0.09 ⇄	−0.10	scatter
USD/IDR usdidr	−0.30	−0.11	0.08	239	−0.07	−0.04	0.44	scatter
UST 2YR ust2y	−0.53	−0.16	−0.17	238	0.07	−0.23 ⇄	−0.11	scatter
DXY dxy	−0.04	−0.19	−0.16	240	−0.06	−0.13	−1.46	scatter
JCI (IHSG) jci	0.15	0.09	0.12	221	0.05	+0.04	0.21	scatter
UST 10YR ust10y	−0.60	−0.21	−0.23	238	0.05	−0.25 ⇄	−0.16	scatter
LQ45 lq45	0.39	0.02	0.10	221	0.04	−0.02	0.16	scatter
INDOGB 10YR id10y	0.28	0.12	−0.04	213	−0.04	+0.16 ⇄	−0.01	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 Constellation (CEG) 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 ↓

Constellation (CEG) · Eaton (ETN)

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	0.02	0.02	0.02	0.02	0.04	−0.05	−0.15	0.07	−0.10	−0.07	0.40	−0.03	−0.02	−0.01	−0.03	−0.17	−0.04	0.03	−0.02	0.00	0.03

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