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.

Vistra (VST) against…

Series	1M	3M	1Y ↓	n 1Y	3Y	3M − 3Y	Beta 1Y
Constellation (CEG) CEG	0.83	0.75	0.79	250	0.77	−0.03	0.82	scatter
Eaton (ETN) ETN	0.59	0.55	0.47	250	0.63	−0.08	0.58	scatter
PHLX Semiconductor (SOX) sox	0.38	0.41	0.45	238	0.49	−0.09	0.48	scatter
Ciena (CIEN) CIEN	0.36	0.41	0.40	250	0.39	+0.02	0.27	scatter
Nasdaq 100 ndx	0.51	0.24	0.38	238	0.50	−0.26	0.93	scatter
Arista (ANET) ANET	0.45	0.37	0.37	250	0.50	−0.14	0.33	scatter
S&P 500 spx	0.64	0.19	0.36	238	0.52	−0.33	1.36	scatter
Coherent (COHR) COHR	0.53	0.38	0.36	250	0.43	−0.05	0.20	scatter
CoreWeave (CRWV) CRWV	0.40	0.49	0.35	250	0.32	+0.17	0.18	scatter
Digital Realty (DLR) DLR	0.69	0.28	0.35	250	0.37	−0.09	0.62	scatter
Copper copper	0.57	0.29	0.25	238	0.21	+0.08	0.44	scatter
Dell (DELL) DELL	0.64	0.41	0.21	250	0.40	0.00	0.14	scatter
UST 10YR ust10y	−0.76	−0.06	−0.21	238	−0.02	−0.03	−0.15	scatter
Bitcoin btc	−0.21	−0.04	0.18	239	0.20	−0.24 ⇄	0.20	scatter
DXY dxy	−0.48	−0.11	−0.15	238	−0.03	−0.08	−1.39	scatter
UST 2YR ust2y	−0.80	0.01	−0.13	238	0.04	−0.03	−0.08	scatter
USD/IDR usdidr	−0.09	−0.07	0.13	238	−0.09	+0.02	0.75	scatter
Gold gold	0.13	0.06	0.12	238	0.14	−0.07	0.20	scatter
Brent brent	−0.28	0.12	−0.11	238	0.05	+0.07	−0.10	scatter
JCI (IHSG) jci	−0.14	0.07	0.07	220	0.05	+0.02	0.13	scatter
LQ45 lq45	0.07	0.02	0.03	220	0.05	−0.03	0.06	scatter
INDOGB 10YR id10y	0.38	0.25	−0.03	213	−0.05	+0.30 ⇄	−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 Vistra (VST) 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 ↓

Vistra (VST) · Constellation (CEG)

20 60 120 252

Rolling correlation of daily changes over the last 20 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	−0.01	−0.10	−0.04	0.07	−0.02	−0.06	−0.18	−0.02	0.00	−0.05	0.79	−0.04	−0.03	−0.01	−0.16	−0.08	−0.07	0.08	−0.01	−0.03	0.01

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