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.

BNI (BBNI) against…

Series	1M	3M	1Y	n 1Y	3Y	3M − 3Y ↓	Beta 1Y
Nasdaq 100 ndx	0.10	0.29	0.05	238	0.07	+0.22	0.08	scatter
Bitcoin btc	−0.01	0.25	0.04	245	0.05	+0.20	0.03	scatter
Emtek (EMTK.JK) EMTK.JK	0.58	0.41	0.32	230	0.21	+0.20	0.17	scatter
S&P 500 spx	0.24	0.26	0.08	238	0.08	+0.18	0.20	scatter
INDOGB 10YR id10y	−0.20	−0.03	−0.22	206	−0.20	+0.17	−0.06	scatter
LQ45 lq45	0.72	0.69	0.64	240	0.54	+0.16	0.81	scatter
PHLX Semiconductor (SOX) sox	−0.06	0.15	−0.01	238	0.01	+0.14	0.00	scatter
Indosat (ISAT.JK) ISAT.JK	−0.13	0.06	0.23	231	0.18	−0.12	0.15	scatter
JCI (IHSG) jci	0.63	0.57	0.56	240	0.46	+0.10	0.74	scatter
Copper copper	−0.11	0.09	0.09	238	0.00	+0.10 ⇄	0.11	scatter
Solusi Sinergi Digital (WIFI.JK) WIFI.JK	0.28	0.20	0.31	230	0.11	+0.09	0.15	scatter
Gold gold	0.04	0.12	0.00	238	0.04	+0.08	0.00	scatter
Sarana Menara (TOWR.JK) TOWR.JK	0.36	0.15	0.34	230	0.23	−0.08	0.29	scatter
UST 10YR ust10y	−0.20	−0.05	0.03	235	0.03	−0.08 ⇄	0.01	scatter
DCI Indonesia (DCII.JK) DCII.JK	−0.29	0.00	0.20	230	−0.05	+0.05 ⇄	0.18	scatter
USD/IDR usdidr	−0.05	−0.09	−0.04	245	−0.12	+0.03	−0.15	scatter
DXY dxy	−0.08	−0.10	0.01	238	−0.07	−0.03	0.04	scatter
Bukalapak (BUKA.JK) BUKA.JK	0.71	0.18	0.32	230	0.20	−0.02	0.26	scatter
Metrodata (MTDL.JK) MTDL.JK	0.33	0.14	0.22	231	0.16	−0.01	0.29	scatter
Brent brent	−0.28	−0.05	−0.03	238	−0.06	+0.01	−0.02	scatter
UST 2YR ust2y	−0.14	0.01	0.07	235	0.02	0.00	0.03	scatter
GoTo (GOTO.JK) GOTO.JK	–	–	−0.02	230	0.07	–	−0.02	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 BNI (BBNI) 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 ↓

BNI (BBNI) · Nasdaq 100

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	0.05	−0.05	−0.02	−0.06	0.04	0.03	−0.17	−0.06	0.08	0.05	0.07	0.18	0.04	−0.03	−0.09	−0.02	−0.12	−0.14	−0.04	0.03

Lag +k: today's change in BNI (BBNI) against the change in Nasdaq 100 k readings later (positive = the first one leads). A peak away from 0 is a description of the past year only.