Updated Daily

Today's Most Correlated Series

S&P 500 Correlation Chart

What is this?

Each day, this site analyzes 220+ economic data series from the Federal Reserve Economic Data (FRED) database to find which series has the highest correlation with the S&P 500 since the next-to-last monthly options expiration date.

Methodology

  • Data series must have daily frequency
  • Series must have complete data coverage for all S&P 500 trading days over the past 3 months
  • Stock market indexes (FRED category 32255) are excluded
  • Correlation is calculated from the next-to-last monthly options expiration to present
  • If correlation is negative, the secondary axis is inverted for visual comparison

Disclaimer

Correlation does not imply causation. These charts are presented for entertainment and educational purposes only. Finding a correlation between two data series does not mean one causes the other. Many spurious correlations exist purely by chance. Do not make investment decisions based on this analysis.

About The Daily Chart Crime

Inspired by the countless "chart crimes" shared on financial Twitter, where two unrelated data series are plotted together to imply a causal relationship that doesn't exist, this site automates the process of finding the most egregiously correlated series each day.

The name is tongue-in-cheek: while the correlations are mathematically real, interpreting them as meaningful relationships would be the real "crime."