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.

Broadcom (AVGO) against…

Series	1M	3M	1Y	n 1Y	3Y	3M − 3Y ↓	Beta 1Y
INDOGB 10YR id10y	0.21	0.32	0.06	213	0.02	+0.30	0.02	scatter
Brent brent	−0.72	−0.24	−0.09	238	0.04	−0.28 ⇄	−0.08	scatter
JCI (IHSG) jci	−0.18	0.29	0.08	220	0.08	+0.21	0.14	scatter
CoreWeave (CRWV) CRWV	0.43	0.53	0.44	250	0.32	+0.21	0.21	scatter
LQ45 lq45	−0.26	0.25	0.05	220	0.05	+0.20	0.09	scatter
Copper copper	0.60	0.41	0.26	238	0.22	+0.18	0.44	scatter
Constellation (CEG) CEG	0.45	0.27	0.37	250	0.45	−0.18	0.36	scatter
UST 10YR ust10y	−0.63	−0.14	−0.17	238	0.02	−0.16 ⇄	−0.11	scatter
S&P 500 spx	0.68	0.51	0.59	238	0.66	−0.15	2.08	scatter
UST 2YR ust2y	−0.42	−0.08	−0.09	238	0.06	−0.14 ⇄	−0.05	scatter
USD/IDR usdidr	−0.07	0.03	0.03	238	−0.10	+0.13 ⇄	0.20	scatter
Digital Realty (DLR) DLR	0.49	0.18	0.22	250	0.30	−0.12	0.38	scatter
Nasdaq 100 ndx	0.69	0.65	0.67	238	0.76	−0.11	1.55	scatter
Coherent (COHR) COHR	0.74	0.62	0.51	250	0.54	+0.08	0.27	scatter
Ciena (CIEN) CIEN	0.69	0.62	0.55	250	0.55	+0.07	0.35	scatter
Arista (ANET) ANET	0.37	0.53	0.51	250	0.59	−0.06	0.44	scatter
Gold gold	0.46	0.17	0.10	238	0.10	+0.06	0.16	scatter
DXY dxy	−0.55	−0.05	−0.14	238	−0.11	+0.06	−1.23	scatter
Eaton (ETN) ETN	0.73	0.56	0.50	250	0.53	+0.04	0.59	scatter
PHLX Semiconductor (SOX) sox	0.84	0.73	0.69	238	0.75	−0.02	0.70	scatter
Bitcoin btc	0.73	0.15	0.28	239	0.16	−0.01	0.29	scatter
Dell (DELL) DELL	0.14	0.45	0.35	250	0.44	+0.01	0.22	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 Broadcom (AVGO) 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 ↓

Broadcom (AVGO) · INDOGB 10YR

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	0.03	−0.03	−0.13	0.05	0.07	0.05	0.05	0.06	−0.04	−0.15	0.06	−0.09	0.18	0.09	−0.02	0.05	−0.07	−0.03	−0.02	−0.10	−0.05

Lag +k: today's change in Broadcom (AVGO) against the change in INDOGB 10YR k readings later (positive = the first one leads). A peak away from 0 is a description of the past year only.