Pick one index and see which others in the Escalake catalog move with it — ranked by correlation, each with its own year-over-year change — so you can tell a diversified basket from one exposure wearing three names.
Ranks the catalog once. The product flags correlation drift across every mechanism you run, as it happens.
Similar Index Finder, explained
How is the correlation calculated?
Each index's monthly values are converted to month-over-month simple returns, and the Pearson correlation is taken between your chosen index's returns and each other index's returns over their common history. A value near +1 means the two move together, near 0 means little relationship, and below 0 means they tend to move in opposite directions.
Why do so many of these correlate highly?
Escalake's public catalog is concentrated in US producer price indices for manufacturing and freight, and those broadly track the same input-cost cycle. That is exactly the point of the tool: a basket built from three highly correlated indices is one exposure with three names, not a diversified hedge.
Are the series aligned by exact date?
No. Each pair is aligned by trailing position (the last N months both indices have published), not by exact calendar date. Every catalog series is a monthly government publication, so this is a close approximation, not an exact date-matched join.
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