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.

PDD (PDD) against…

Series	1M	3M	1Y	n 1Y	3Y ↓	3M − 3Y	Beta 1Y
Copper copper	−0.09	−0.05	0.24	238	0.33	−0.38 ⇄	0.29	scatter
PHLX Semiconductor (SOX) sox	0.17	−0.20	0.17	238	0.25	−0.45 ⇄	0.13	scatter
Nasdaq 100 ndx	0.02	−0.07	0.28	238	0.24	−0.31 ⇄	0.47	scatter
S&P 500 spx	−0.16	−0.03	0.35	238	0.22	−0.25 ⇄	0.92	scatter
Coherent (COHR) COHR	−0.21	−0.11	0.16	250	0.19	−0.30 ⇄	0.06	scatter
INDOGB 10YR id10y	0.01	−0.08	−0.12	213	−0.17	+0.09	−0.03	scatter
Ciena (CIEN) CIEN	−0.23	−0.20	0.17	250	0.16	−0.36 ⇄	0.08	scatter
Arista (ANET) ANET	−0.12	−0.10	0.07	250	0.14	−0.24 ⇄	0.04	scatter
Bitcoin btc	0.51	0.15	0.19	239	0.14	+0.01	0.15	scatter
CoreWeave (CRWV) CRWV	−0.15	−0.21	0.18	250	0.13	−0.34 ⇄	0.06	scatter
Dell (DELL) DELL	−0.26	−0.27	0.07	250	0.12	−0.39 ⇄	0.03	scatter
Constellation (CEG) CEG	−0.22	−0.20	0.11	250	0.11	−0.31 ⇄	0.07	scatter
JCI (IHSG) jci	−0.55	−0.12	0.09	220	0.11	−0.23 ⇄	0.11	scatter
LQ45 lq45	−0.64	−0.10	0.12	220	0.10	−0.20 ⇄	0.14	scatter
DXY dxy	0.17	−0.05	−0.12	238	−0.10	+0.05	−0.82	scatter
Eaton (ETN) ETN	−0.12	−0.15	0.14	250	0.09	−0.24 ⇄	0.12	scatter
Gold gold	−0.10	0.03	0.23	238	0.06	−0.03	0.26	scatter
USD/IDR usdidr	0.48	0.06	0.03	238	−0.04	+0.10 ⇄	0.15	scatter
Digital Realty (DLR) DLR	−0.25	−0.18	0.08	250	0.04	−0.21 ⇄	0.10	scatter
UST 10YR ust10y	−0.06	0.03	−0.03	238	−0.03	+0.05 ⇄	−0.01	scatter
Brent brent	−0.47	−0.17	−0.17	238	0.01	−0.18 ⇄	−0.10	scatter
UST 2YR ust2y	0.21	0.04	−0.06	238	0.00	+0.04	−0.03	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 PDD (PDD) 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 ↓

PDD (PDD) · Copper

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	−0.01	−0.05	−0.01	−0.06	−0.06	−0.02	0.00	−0.09	0.05	0.24	0.02	0.07	0.03	0.02	0.11	−0.11	−0.05	−0.11	0.07	−0.06

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