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.

Dell (DELL) against…

Series	1M	3M	1Y ↓	n 1Y	3Y	3M − 3Y	Beta 1Y
Nasdaq 100 ndx	0.29	0.57	0.41	238	0.53	+0.04	1.58	scatter
PHLX Semiconductor (SOX) sox	0.24	0.59	0.41	238	0.54	+0.05	0.68	scatter
Arista (ANET) ANET	0.52	0.58	0.39	250	0.45	+0.13	0.54	scatter
S&P 500 spx	0.41	0.56	0.38	238	0.49	+0.06	2.26	scatter
Eaton (ETN) ETN	0.46	0.51	0.36	250	0.47	+0.05	0.68	scatter
Ciena (CIEN) CIEN	0.25	0.57	0.35	250	0.42	+0.15	0.36	scatter
Coherent (COHR) COHR	0.40	0.54	0.31	250	0.42	+0.12	0.27	scatter
CoreWeave (CRWV) CRWV	0.18	0.53	0.29	250	0.26	+0.28	0.23	scatter
Constellation (CEG) CEG	0.43	0.35	0.21	250	0.43	−0.08	0.34	scatter
Copper copper	0.30	0.34	0.20	238	0.24	+0.10	0.56	scatter
Digital Realty (DLR) DLR	0.56	0.31	0.19	250	0.32	−0.01	0.52	scatter
Equinix (EQIX) EQIX	0.34	0.38	0.17	250	0.23	+0.15	0.53	scatter
Bitcoin btc	−0.11	0.02	0.17	239	0.22	−0.19	0.29	scatter
UST 10YR ust10y	−0.49	−0.27	−0.16	238	0.04	−0.31 ⇄	−0.18	scatter
Gold gold	0.45	0.33	0.16	238	0.16	+0.17	0.41	scatter
DXY dxy	−0.15	−0.15	−0.10	238	−0.05	−0.10	−1.53	scatter
Brent brent	−0.42	−0.25	−0.09	238	0.04	−0.30 ⇄	−0.13	scatter
UST 2YR ust2y	−0.36	−0.18	−0.08	238	0.07	−0.25 ⇄	−0.09	scatter
LQ45 lq45	0.59	0.23	−0.06	220	0.01	+0.22	−0.18	scatter
USD/IDR usdidr	−0.53	−0.01	−0.03	238	−0.07	+0.07	−0.29	scatter
JCI (IHSG) jci	0.40	0.30	−0.02	220	0.06	+0.24	−0.06	scatter
INDOGB 10YR id10y	0.47	0.41	0.00	213	−0.04	+0.45 ⇄	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 Dell (DELL) 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 ↓

Dell (DELL) · 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	0.04	−0.02	−0.06	0.00	0.13	−0.08	−0.09	0.08	0.11	−0.06	0.41	0.04	−0.05	0.08	−0.12	−0.18	0.07	−0.05	−0.08	0.06	0.11

Lag +k: today's change in Dell (DELL) 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.