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.

Check Point (CHKP) against…

Series	1M	3M	1Y	n 1Y	3Y	3M − 3Y ↓	Beta 1Y
PHLX Semiconductor (SOX) sox	0.02	−0.49	−0.23	240	−0.03	−0.46	−0.20	scatter
Coherent (COHR) COHR	−0.40	−0.53	−0.25	250	−0.07	−0.46	−0.11	scatter
CoreWeave (CRWV) CRWV	−0.10	−0.45	−0.10	250	−0.01	−0.44	−0.04	scatter
Nasdaq 100 ndx	0.07	−0.24	−0.04	240	0.13	−0.38 ⇄	−0.09	scatter
Ciena (CIEN) CIEN	−0.36	−0.46	−0.26	250	−0.11	−0.36	−0.14	scatter
Eaton (ETN) ETN	−0.26	−0.44	−0.31	250	−0.08	−0.36	−0.31	scatter
Arista (ANET) ANET	−0.07	−0.31	−0.04	250	0.04	−0.34 ⇄	−0.03	scatter
S&P 500 spx	−0.13	−0.13	0.02	240	0.19	−0.32 ⇄	0.07	scatter
Copper copper	0.01	−0.19	−0.05	240	0.11	−0.29 ⇄	−0.08	scatter
Constellation (CEG) CEG	−0.26	−0.35	−0.17	250	−0.08	−0.27	−0.14	scatter
DXY dxy	0.60	0.19	0.13	240	−0.03	+0.23 ⇄	1.04	scatter
UST 10YR ust10y	0.10	−0.18	−0.01	238	0.02	−0.20 ⇄	−0.01	scatter
USD/IDR usdidr	0.14	0.09	−0.06	239	−0.11	+0.19 ⇄	−0.33	scatter
JCI (IHSG) jci	0.33	−0.12	0.01	221	0.06	−0.18 ⇄	0.01	scatter
Brent brent	0.04	−0.13	0.07	240	0.04	−0.17 ⇄	0.05	scatter
INDOGB 10YR id10y	−0.37	−0.21	−0.04	213	−0.05	−0.16	−0.01	scatter
LQ45 lq45	0.40	−0.07	0.05	221	0.09	−0.16 ⇄	0.07	scatter
Digital Realty (DLR) DLR	−0.11	−0.20	−0.14	250	−0.06	−0.15	−0.21	scatter
Dell (DELL) DELL	0.06	−0.14	0.06	250	0.01	−0.15 ⇄	0.03	scatter
UST 2YR ust2y	0.21	−0.11	0.02	238	0.03	−0.14 ⇄	0.01	scatter
Bitcoin btc	−0.09	−0.02	0.07	239	0.04	−0.06 ⇄	0.06	scatter
Gold gold	−0.19	−0.08	−0.07	240	−0.03	−0.06	−0.10	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 Check Point (CHKP) 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 ↓

Check Point (CHKP) · 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	−0.06	0.03	−0.05	0.04	0.00	−0.02	0.02	0.09	0.05	−0.23	0.00	0.12	−0.12	0.04	0.06	−0.11	−0.02	−0.06	−0.04	0.00

Lag +k: today's change in Check Point (CHKP) 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.