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.

CoreWeave (CRWV) against…

Series	1M	3M	1Y ↓	n 1Y	3Y	3M − 3Y	Beta 1Y
PHLX Semiconductor (SOX) sox	0.23	0.71	0.53	238	0.38	+0.34	1.11	scatter
Nasdaq 100 ndx	0.29	0.65	0.50	238	0.35	+0.30	2.42	scatter
Coherent (COHR) COHR	0.57	0.72	0.46	250	0.39	+0.33	0.51	scatter
Arista (ANET) ANET	0.51	0.64	0.46	250	0.33	+0.30	0.81	scatter
Eaton (ETN) ETN	0.65	0.63	0.46	250	0.32	+0.31	1.11	scatter
S&P 500 spx	0.09	0.50	0.46	238	0.28	+0.22	3.40	scatter
Ciena (CIEN) CIEN	0.42	0.72	0.45	250	0.32	+0.40	0.59	scatter
Bitcoin btc	0.59	0.15	0.34	239	0.22	−0.07	0.74	scatter
Copper copper	0.24	0.45	0.30	238	0.07	+0.38	1.03	scatter
Digital Realty (DLR) DLR	0.52	0.27	0.29	250	0.27	0.00	1.02	scatter
Dell (DELL) DELL	0.18	0.53	0.29	250	0.26	+0.28	0.36	scatter
Constellation (CEG) CEG	0.40	0.46	0.27	250	0.19	+0.27	0.54	scatter
Equinix (EQIX) EQIX	0.51	0.41	0.26	250	0.24	+0.17	0.98	scatter
Gold gold	0.24	0.23	0.17	238	0.07	+0.16	0.55	scatter
DXY dxy	0.48	−0.13	−0.12	238	−0.06	−0.07	−2.32	scatter
JCI (IHSG) jci	−0.17	0.37	0.10	220	0.08	+0.29	0.38	scatter
LQ45 lq45	−0.34	0.38	0.09	220	0.09	+0.29	0.33	scatter
Brent brent	−0.09	−0.27	−0.09	238	−0.07	−0.20	−0.16	scatter
UST 10YR ust10y	0.07	−0.22	−0.04	238	−0.03	−0.19	−0.06	scatter
USD/IDR usdidr	−0.07	0.05	−0.03	238	−0.05	+0.10 ⇄	−0.33	scatter
INDOGB 10YR id10y	−0.26	0.07	0.02	213	−0.01	+0.08 ⇄	0.02	scatter
UST 2YR ust2y	0.18	−0.13	0.00	238	0.08	−0.21 ⇄	0.00	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 CoreWeave (CRWV) 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 ↓

CoreWeave (CRWV) · Ciena (CIEN)

20 60 120 252

Rolling correlation of daily changes over the last 252 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	0.09	0.08	0.04	0.01	−0.12	−0.15	−0.07	−0.08	−0.02	0.45	0.12	0.04	0.05	−0.14	−0.03	−0.05	0.01	0.02	0.10	0.13

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