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.

Bukalapak (BUKA.JK) against…

Series	1M	3M	1Y ↓	n 1Y	3Y	3M − 3Y	Beta 1Y
JCI (IHSG) jci	0.42	0.52	0.51	225	0.37	+0.15	0.84	scatter
LQ45 lq45	0.47	0.44	0.49	225	0.35	+0.09	0.76	scatter
Emtek (EMTK.JK) EMTK.JK	0.57	0.50	0.44	244	0.51	−0.01	0.28	scatter
Solusi Sinergi Digital (WIFI.JK) WIFI.JK	0.41	0.39	0.31	244	0.17	+0.22	0.19	scatter
Metrodata (MTDL.JK) MTDL.JK	0.45	0.26	0.27	244	0.24	+0.02	0.46	scatter
Telkom (TLKM.JK) TLKM.JK	0.12	0.12	0.23	244	0.25	−0.13	0.22	scatter
Sarana Menara (TOWR.JK) TOWR.JK	0.37	0.18	0.20	244	0.25	−0.07	0.21	scatter
Indosat (ISAT.JK) ISAT.JK	−0.18	0.15	0.17	244	0.07	+0.08	0.14	scatter
UST 10YR ust10y	−0.36	−0.08	−0.15	223	−0.13	+0.05	−0.09	scatter
INDOGB 10YR id10y	−0.24	−0.09	−0.14	216	−0.15	+0.06	−0.05	scatter
UST 2YR ust2y	−0.09	−0.02	−0.12	223	−0.14	+0.12	−0.07	scatter
DCI Indonesia (DCII.JK) DCII.JK	−0.30	0.03	0.12	244	0.06	−0.03	0.14	scatter
DXY dxy	0.01	−0.08	−0.10	223	−0.08	0.00	−0.86	scatter
Brent brent	−0.25	0.05	−0.09	223	−0.04	+0.09 ⇄	−0.07	scatter
GoTo (GOTO.JK) GOTO.JK	–	–	0.08	244	0.23	–	0.10	scatter
USD/IDR usdidr	0.23	0.00	−0.06	229	−0.06	+0.07 ⇄	−0.29	scatter
Gold gold	−0.45	0.02	−0.05	223	0.01	+0.01	−0.08	scatter
Nasdaq 100 ndx	0.65	0.13	0.04	223	0.19	−0.07	0.09	scatter
Copper copper	0.27	0.18	0.04	223	−0.06	+0.24 ⇄	0.06	scatter
S&P 500 spx	0.62	0.04	0.04	223	0.15	−0.11	0.12	scatter
PHLX Semiconductor (SOX) sox	0.51	0.25	0.04	223	0.16	+0.09	0.03	scatter
Bitcoin btc	0.49	0.06	−0.01	230	0.03	+0.03	−0.01	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 Bukalapak (BUKA.JK) 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 ↓

Bukalapak (BUKA.JK) · JCI (IHSG)

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	0.09	−0.05	−0.09	0.06	0.13	−0.04	−0.06	0.10	0.09	−0.02	0.51	−0.04	0.13	0.06	0.01	−0.05	0.01	−0.07	−0.03	0.05	−0.05

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