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.

Intel (INTC) against…

Series	1M	3M	1Y	n 1Y	3Y ↓	3M − 3Y	Beta 1Y
PHLX Semiconductor (SOX) sox	0.70	0.86	0.74	240	0.61	+0.25	1.29	scatter
Nasdaq 100 ndx	0.83	0.81	0.65	240	0.49	+0.32	2.58	scatter
S&P 500 spx	0.73	0.58	0.51	240	0.43	+0.14	3.10	scatter
Coherent (COHR) COHR	0.58	0.71	0.51	250	0.40	+0.31	0.46	scatter
Eaton (ETN) ETN	0.69	0.65	0.46	250	0.38	+0.27	0.91	scatter
Ciena (CIEN) CIEN	0.58	0.72	0.45	250	0.34	+0.38	0.48	scatter
Dell (DELL) DELL	0.33	0.54	0.29	250	0.32	+0.21	0.30	scatter
Arista (ANET) ANET	0.56	0.56	0.38	250	0.27	+0.28	0.54	scatter
Copper copper	0.78	0.63	0.29	240	0.22	+0.40	0.81	scatter
Constellation (CEG) CEG	0.56	0.34	0.30	250	0.21	+0.13	0.50	scatter
Bitcoin btc	0.54	0.22	0.24	239	0.19	+0.03	0.43	scatter
Digital Realty (DLR) DLR	0.74	0.21	0.20	250	0.19	+0.02	0.58	scatter
CoreWeave (CRWV) CRWV	0.69	0.68	0.31	250	0.13	+0.55	0.25	scatter
USD/IDR usdidr	−0.09	0.07	0.05	239	−0.09	+0.16 ⇄	0.51	scatter
Gold gold	0.35	0.23	0.18	240	0.05	+0.18	0.49	scatter
DXY dxy	0.11	−0.08	−0.10	240	−0.04	−0.04	−1.49	scatter
UST 10YR ust10y	−0.60	−0.27	−0.20	238	−0.04	−0.23	−0.23	scatter
Brent brent	−0.40	−0.22	−0.17	240	−0.04	−0.18	−0.25	scatter
INDOGB 10YR id10y	−0.16	0.08	0.11	213	0.04	+0.04	0.07	scatter
JCI (IHSG) jci	0.11	0.32	−0.08	221	−0.02	+0.34 ⇄	−0.24	scatter
LQ45 lq45	0.06	0.28	−0.11	221	−0.02	+0.30 ⇄	−0.33	scatter
UST 2YR ust2y	−0.39	−0.18	−0.14	238	0.00	−0.19 ⇄	−0.15	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 Intel (INTC) 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 ↓

Intel (INTC) · PHLX Semiconductor (SOX)

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	0.06	0.04	−0.03	0.06	0.02	−0.11	−0.07	0.11	−0.06	−0.07	0.74	−0.01	−0.16	0.20	0.02	−0.01	0.00	0.12	0.04	0.01	0.01

Lag +k: today's change in Intel (INTC) against the change in PHLX Semiconductor (SOX) k readings later (positive = the first one leads). A peak away from 0 is a description of the past year only.