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.

SanDisk (SNDK) against…

Series	1M	3M	1Y ↓	n 1Y	3Y	3M − 3Y	Beta 1Y
PHLX Semiconductor (SOX) sox	0.64	0.76	0.69	238	0.64	+0.12	1.75	scatter
Nasdaq 100 ndx	0.40	0.64	0.58	238	0.51	+0.13	3.39	scatter
Ciena (CIEN) CIEN	0.24	0.68	0.57	250	0.50	+0.19	0.91	scatter
Eaton (ETN) ETN	0.55	0.58	0.52	250	0.45	+0.13	1.52	scatter
Coherent (COHR) COHR	0.52	0.60	0.52	250	0.47	+0.13	0.69	scatter
S&P 500 spx	0.35	0.40	0.44	238	0.42	−0.01	3.98	scatter
CoreWeave (CRWV) CRWV	0.27	0.64	0.41	250	0.26	+0.38	0.50	scatter
Arista (ANET) ANET	0.12	0.50	0.38	250	0.32	+0.18	0.81	scatter
Constellation (CEG) CEG	0.36	0.30	0.32	250	0.28	+0.02	0.78	scatter
Copper copper	0.53	0.45	0.28	238	0.27	+0.18	1.19	scatter
Dell (DELL) DELL	0.04	0.49	0.25	250	0.31	+0.18	0.39	scatter
Digital Realty (DLR) DLR	0.24	0.15	0.20	250	0.21	−0.06	0.84	scatter
Gold gold	0.54	0.14	0.17	238	0.17	−0.04	0.66	scatter
Bitcoin btc	0.42	0.17	0.15	239	0.17	0.00	0.40	scatter
Brent brent	−0.41	−0.05	−0.09	238	−0.02	−0.02	−0.20	scatter
USD/IDR usdidr	−0.18	−0.08	0.07	238	−0.01	−0.06	1.01	scatter
DXY dxy	−0.48	−0.16	−0.06	238	−0.05	−0.11	−1.46	scatter
UST 10YR ust10y	−0.34	−0.05	−0.06	238	0.04	−0.09 ⇄	−0.11	scatter
UST 2YR ust2y	−0.36	−0.05	−0.04	238	0.05	−0.10 ⇄	−0.06	scatter
INDOGB 10YR id10y	0.01	0.10	0.03	213	0.00	+0.09	0.02	scatter
JCI (IHSG) jci	−0.04	0.27	0.01	220	0.05	+0.22	0.07	scatter
LQ45 lq45	−0.14	0.25	−0.01	220	0.04	+0.21	−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 SanDisk (SNDK) 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 ↓

SanDisk (SNDK) · 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	0.05	0.06	0.04	0.21	−0.04	−0.12	−0.08	0.07	−0.10	−0.04	0.69	−0.05	−0.08	0.15	−0.15	−0.09	−0.01	0.00	0.02	0.03	0.01

Lag +k: today's change in SanDisk (SNDK) 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.