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.

Kalbe Farma (KLBF) against…

Series	1M	3M	1Y ↓	n 1Y	3Y	3M − 3Y	Beta 1Y
LQ45 lq45	0.91	0.64	0.47	240	0.40	+0.25	0.67	scatter
JCI (IHSG) jci	0.90	0.63	0.43	240	0.35	+0.28	0.66	scatter
Sarana Menara (TOWR.JK) TOWR.JK	0.65	0.19	0.25	229	0.17	+0.02	0.26	scatter
Metrodata (MTDL.JK) MTDL.JK	0.41	0.23	0.25	230	0.22	+0.01	0.40	scatter
INDOGB 10YR id10y	−0.30	−0.41	−0.21	205	−0.14	−0.28	−0.07	scatter
Emtek (EMTK.JK) EMTK.JK	0.75	0.31	0.21	229	0.10	+0.21	0.14	scatter
Indosat (ISAT.JK) ISAT.JK	0.33	−0.06	0.19	230	0.13	−0.19 ⇄	0.15	scatter
Solusi Sinergi Digital (WIFI.JK) WIFI.JK	0.28	0.11	0.17	229	0.07	+0.04	0.10	scatter
Bukalapak (BUKA.JK) BUKA.JK	0.49	0.01	0.17	229	0.14	−0.13	0.16	scatter
DCI Indonesia (DCII.JK) DCII.JK	−0.14	0.05	0.15	229	−0.05	+0.10 ⇄	0.16	scatter
GoTo (GOTO.JK) GOTO.JK	–	–	0.15	229	0.10	–	0.17	scatter
USD/IDR usdidr	−0.42	−0.26	−0.13	245	−0.08	−0.18	−0.66	scatter
Brent brent	−0.33	−0.04	−0.13	239	−0.09	+0.05	−0.10	scatter
UST 2YR ust2y	−0.27	−0.22	−0.12	236	−0.07	−0.15	−0.07	scatter
UST 10YR ust10y	−0.31	−0.10	−0.09	236	−0.04	−0.06	−0.06	scatter
S&P 500 spx	0.41	0.08	0.08	239	0.06	+0.02	0.26	scatter
DXY dxy	−0.09	−0.07	−0.07	239	−0.09	+0.01	−0.62	scatter
Nasdaq 100 ndx	0.44	0.11	0.04	239	0.05	+0.07	0.09	scatter
Gold gold	0.05	0.18	0.03	239	0.08	+0.11	0.04	scatter
PHLX Semiconductor (SOX) sox	0.30	0.08	−0.02	239	0.01	+0.08	−0.02	scatter
Copper copper	−0.04	−0.01	0.01	239	0.04	−0.05 ⇄	0.02	scatter
Bitcoin btc	−0.24	−0.07	0.01	244	0.04	−0.11 ⇄	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 Kalbe Farma (KLBF) 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 ↓

Kalbe Farma (KLBF) · LQ45

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	0.12	0.01	−0.07	−0.01	0.12	−0.02	−0.01	−0.03	0.01	0.47	−0.01	0.10	−0.02	0.05	−0.05	−0.09	−0.04	0.03	0.06	−0.06

Lag +k: today's change in Kalbe Farma (KLBF) against the change in LQ45 k readings later (positive = the first one leads). A peak away from 0 is a description of the past year only.