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.

Eaton (ETN) against…

Series	1M	3M	1Y ↓	n 1Y	3Y	3M − 3Y	Beta 1Y
PHLX Semiconductor (SOX) sox	0.88	0.73	0.75	238	0.72	+0.01	0.66	scatter
Nasdaq 100 ndx	0.77	0.60	0.62	238	0.66	−0.07	1.25	scatter
Coherent (COHR) COHR	0.83	0.72	0.62	250	0.61	+0.11	0.28	scatter
S&P 500 spx	0.67	0.53	0.58	238	0.66	−0.13	1.79	scatter
Ciena (CIEN) CIEN	0.64	0.67	0.57	250	0.54	+0.13	0.31	scatter
Arista (ANET) ANET	0.79	0.76	0.51	250	0.57	+0.18	0.37	scatter
CoreWeave (CRWV) CRWV	0.65	0.63	0.46	250	0.32	+0.31	0.19	scatter
Constellation (CEG) CEG	0.54	0.44	0.40	250	0.56	−0.12	0.34	scatter
Dell (DELL) DELL	0.46	0.51	0.36	250	0.47	+0.05	0.18	scatter
Copper copper	0.84	0.44	0.34	238	0.25	+0.18	0.50	scatter
Digital Realty (DLR) DLR	0.77	0.20	0.33	250	0.44	−0.24	0.48	scatter
Equinix (EQIX) EQIX	0.65	0.27	0.26	250	0.33	−0.05	0.41	scatter
Gold gold	0.72	0.25	0.24	238	0.15	+0.10	0.32	scatter
Bitcoin btc	0.71	0.09	0.22	239	0.21	−0.12	0.20	scatter
DXY dxy	−0.22	−0.15	−0.19	238	−0.13	−0.02	−1.45	scatter
Brent brent	−0.53	−0.22	−0.18	238	−0.05	−0.17	−0.13	scatter
UST 10YR ust10y	−0.52	−0.09	−0.12	238	0.03	−0.12 ⇄	−0.07	scatter
USD/IDR usdidr	−0.30	−0.07	0.07	238	−0.11	+0.04	0.33	scatter
UST 2YR ust2y	−0.39	−0.02	−0.06	238	0.08	−0.10 ⇄	−0.03	scatter
INDOGB 10YR id10y	−0.14	0.13	−0.06	213	−0.05	+0.19 ⇄	−0.02	scatter
LQ45 lq45	−0.05	0.03	−0.03	220	0.03	0.00	−0.05	scatter
JCI (IHSG) jci	0.11	0.11	0.01	220	0.05	+0.05	0.02	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 Eaton (ETN) 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 ↓

Eaton (ETN) · 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	0.02	0.06	−0.03	0.05	−0.05	−0.17	−0.05	0.10	−0.12	0.04	0.75	−0.15	−0.06	0.07	−0.14	−0.10	0.06	0.06	0.03	0.07	−0.05

Lag +k: today's change in Eaton (ETN) 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.