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.

Merdeka Battery (MBMA) against…

Series	1M	3M	1Y ↓	n 1Y	3Y	3M − 3Y	Beta 1Y
JCI (IHSG) jci	0.88	0.75	0.57	240	0.41	+0.34	1.47	scatter
LQ45 lq45	0.83	0.69	0.52	240	0.38	+0.32	1.26	scatter
Solusi Sinergi Digital (WIFI.JK) WIFI.JK	0.77	0.48	0.39	229	0.12	+0.36	0.41	scatter
Emtek (EMTK.JK) EMTK.JK	0.25	0.50	0.34	229	0.16	+0.34	0.39	scatter
Bukalapak (BUKA.JK) BUKA.JK	0.16	0.38	0.28	229	0.13	+0.25	0.49	scatter
Sarana Menara (TOWR.JK) TOWR.JK	−0.11	0.20	0.28	229	0.17	+0.02	0.51	scatter
GoTo (GOTO.JK) GOTO.JK	–	–	0.24	229	0.12	–	0.48	scatter
Gold gold	−0.03	0.20	0.21	238	0.18	+0.02	0.54	scatter
Metrodata (MTDL.JK) MTDL.JK	−0.51	−0.04	0.20	229	0.15	−0.19 ⇄	0.58	scatter
Indosat (ISAT.JK) ISAT.JK	0.01	0.31	0.18	229	0.13	+0.18	0.25	scatter
INDOGB 10YR id10y	−0.26	−0.17	−0.17	205	−0.14	−0.03	−0.10	scatter
Copper copper	0.05	0.26	0.16	238	0.08	+0.18	0.44	scatter
DCI Indonesia (DCII.JK) DCII.JK	0.40	0.27	0.15	229	0.04	+0.23	0.29	scatter
Brent brent	−0.31	−0.11	−0.13	238	−0.07	−0.04	−0.17	scatter
S&P 500 spx	0.28	0.23	0.10	238	0.05	+0.18	0.55	scatter
Bitcoin btc	0.07	0.23	0.09	243	0.02	+0.21	0.15	scatter
DXY dxy	0.13	−0.10	−0.08	238	−0.06	−0.04	−1.21	scatter
Nasdaq 100 ndx	0.37	0.36	0.07	238	0.05	+0.31	0.27	scatter
PHLX Semiconductor (SOX) sox	0.37	0.41	0.07	238	0.05	+0.36	0.11	scatter
UST 10YR ust10y	0.33	0.09	−0.05	235	−0.03	+0.11 ⇄	−0.05	scatter
USD/IDR usdidr	−0.21	−0.07	−0.03	244	−0.04	−0.03	−0.27	scatter
UST 2YR ust2y	0.37	0.03	−0.03	235	−0.02	+0.05 ⇄	−0.03	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 Merdeka Battery (MBMA) 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 ↓

Merdeka Battery (MBMA) · Emtek (EMTK.JK)

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	−0.13	0.05	−0.10	−0.08	−0.02	−0.01	0.02	0.07	0.02	−0.11	0.34	0.03	0.05	−0.04	−0.01	0.04	0.01	−0.05	−0.08	−0.02	−0.08

Lag +k: today's change in Merdeka Battery (MBMA) against the change in Emtek (EMTK.JK) k readings later (positive = the first one leads). A peak away from 0 is a description of the past year only.