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.

Tokyo Electron (8035.T) against…

Series	1M	3M	1Y ↓	n 1Y	3Y	3M − 3Y	Beta 1Y
Advantest (6857.T) 6857.T	0.64	0.75	0.69	243	0.67	+0.08	0.52	scatter
PHLX Semiconductor (SOX) sox	−0.16	0.52	0.30	220	0.48	+0.04	0.38	scatter
JCI (IHSG) jci	−0.58	0.15	0.29	210	0.25	−0.10	0.65	scatter
Arista (ANET) ANET	0.16	0.41	0.28	231	0.31	+0.11	0.30	scatter
Nasdaq 100 ndx	−0.57	0.53	0.27	220	0.46	+0.07	0.79	scatter
LQ45 lq45	−0.41	0.05	0.24	210	0.21	−0.17	0.51	scatter
Coherent (COHR) COHR	0.22	0.42	0.22	231	0.32	+0.10	0.15	scatter
Gold gold	0.26	0.22	0.19	220	0.10	+0.12	0.38	scatter
S&P 500 spx	−0.41	0.42	0.19	220	0.40	+0.02	0.84	scatter
Brent brent	−0.24	−0.18	−0.18	220	−0.03	−0.15	−0.19	scatter
Copper copper	−0.94	0.31	0.18	220	0.34	−0.03	0.37	scatter
Ciena (CIEN) CIEN	0.00	0.42	0.18	231	0.25	+0.17	0.14	scatter
INDOGB 10YR id10y	−0.26	0.01	−0.17	201	−0.13	+0.14 ⇄	−0.08	scatter
CoreWeave (CRWV) CRWV	0.05	0.32	0.17	231	0.10	+0.23	0.10	scatter
USD/IDR usdidr	−0.62	−0.19	−0.12	228	−0.20	+0.02	−0.94	scatter
Constellation (CEG) CEG	−0.18	0.08	0.08	231	0.27	−0.19	0.10	scatter
Bitcoin btc	0.54	0.04	0.08	230	0.09	−0.05	0.10	scatter
UST 2YR ust2y	0.28	0.13	0.07	221	0.06	+0.07	0.06	scatter
Dell (DELL) DELL	−0.20	0.28	0.05	231	0.26	+0.03	0.04	scatter
Digital Realty (DLR) DLR	−0.12	0.02	0.04	231	0.19	−0.17	0.08	scatter
UST 10YR ust10y	0.42	0.10	0.01	221	0.03	+0.07	0.01	scatter
DXY dxy	−0.21	0.09	0.01	220	−0.06	+0.14 ⇄	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 Tokyo Electron (8035.T) 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 ↓

Tokyo Electron (8035.T) · 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	0.05	−0.01	0.05	0.07	−0.05	−0.07	−0.04	0.03	−0.04	0.17	0.18	−0.04	−0.01	−0.04	0.01	−0.11	−0.05	0.04	−0.05	−0.04	0.03

Lag +k: today's change in Tokyo Electron (8035.T) 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.