{"schema":1,"generated_at":"2026-10-06T04:07:49Z","meta":{"spec":"docs/research/site_calculations_spec.md","block":"C3","note":"Weekly flows scaled by their trailing 52-week standard deviation. lag_weeks > 0: flow leads returns."},"crosscorr":[{"flow":"dii","lag_weeks":-8,"corr":0.0068,"n":991,"start":"2007-10-19"},{"flow":"dii","lag_weeks":-7,"corr":0.0279,"n":991,"start":"2007-10-19"},{"flow":"dii","lag_weeks":-6,"corr":-0.0071,"n":991,"start":"2007-10-19"},{"flow":"dii","lag_weeks":-5,"corr":-0.0161,"n":991,"start":"2007-10-19"},{"flow":"dii","lag_weeks":-4,"corr":-0.042,"n":991,"start":"2007-10-19"},{"flow":"dii","lag_weeks":-3,"corr":-0.0965,"n":991,"start":"2007-10-19"},{"flow":"dii","lag_weeks":-2,"corr":-0.1671,"n":991,"start":"2007-10-19"},{"flow":"dii","lag_weeks":-1,"corr":-0.3587,"n":991,"start":"2007-10-19"},{"flow":"dii","lag_weeks":0,"corr":-0.2836,"n":991,"start":"2007-10-19"},{"flow":"dii","lag_weeks":1,"corr":-0.0312,"n":991,"start":"2007-10-19"},{"flow":"dii","lag_weeks":2,"corr":-0.0447,"n":991,"start":"2007-10-19"},{"flow":"dii","lag_weeks":3,"corr":-0.0321,"n":991,"start":"2007-10-19"},{"flow":"dii","lag_weeks":4,"corr":0.0156,"n":991,"start":"2007-10-19"},{"flow":"dii","lag_weeks":5,"corr":0.0222,"n":991,"start":"2007-10-19"},{"flow":"dii","lag_weeks":6,"corr":0.0109,"n":991,"start":"2007-10-19"},{"flow":"dii","lag_weeks":7,"corr":0.0185,"n":991,"start":"2007-10-19"},{"flow":"dii","lag_weeks":8,"corr":-0.0094,"n":991,"start":"2007-10-19"},{"flow":"fpi_equity","lag_weeks":-8,"corr":0.0124,"n":276,"start":"2021-07-02"},{"flow":"fpi_equity","lag_weeks":-7,"corr":-0.0268,"n":276,"start":"2021-07-02"},{"flow":"fpi_equity","lag_weeks":-6,"corr":0.0675,"n":276,"start":"2021-07-02"},{"flow":"fpi_equity","lag_weeks":-5,"corr":0.0878,"n":276,"start":"2021-07-02"},{"flow":"fpi_equity","lag_weeks":-4,"corr":0.156,"n":276,"start":"2021-07-02"},{"flow":"fpi_equity","lag_weeks":-3,"corr":0.0779,"n":276,"start":"2021-07-02"},{"flow":"fpi_equity","lag_weeks":-2,"corr":0.2128,"n":276,"start":"2021-07-02"},{"flow":"fpi_equity","lag_weeks":-1,"corr":0.4689,"n":276,"start":"2021-07-02"},{"flow":"fpi_equity","lag_weeks":0,"corr":0.3351,"n":276,"start":"2021-07-02"},{"flow":"fpi_equity","lag_weeks":1,"corr":-0.047,"n":276,"start":"2021-07-02"},{"flow":"fpi_equity","lag_weeks":2,"corr":0.0153,"n":276,"start":"2021-07-02"},{"flow":"fpi_equity","lag_weeks":3,"corr":0.0637,"n":276,"start":"2021-07-02"},{"flow":"fpi_equity","lag_weeks":4,"corr":-0.0751,"n":276,"start":"2021-07-02"},{"flow":"fpi_equity","lag_weeks":5,"corr":-0.1278,"n":276,"start":"2021-07-02"},{"flow":"fpi_equity","lag_weeks":6,"corr":-0.0404,"n":276,"start":"2021-07-02"},{"flow":"fpi_equity","lag_weeks":7,"corr":-0.0263,"n":276,"start":"2021-07-02"},{"flow":"fpi_equity","lag_weeks":8,"corr":0.028,"n":276,"start":"2021-07-02"}],"granger":[{"flow":"dii","sample":"full","direction":"flows_predict_returns","start":"2007-10-19","end":"2026-10-09","lags":2,"F":1.1217,"p_value":0.3261,"n":989,"sum_x_coefs":0.032},{"flow":"dii","sample":"full","direction":"returns_predict_flows","start":"2007-10-19","end":"2026-10-09","lags":3,"F":36.6195,"p_value":0.0,"n":988,"sum_x_coefs":-0.0407},{"flow":"dii","sample":"first_half","direction":"flows_predict_returns","start":"2007-10-19","end":"2017-04-07","lags":2,"F":1.033,"p_value":0.3567,"n":493,"sum_x_coefs":0.1615},{"flow":"dii","sample":"first_half","direction":"returns_predict_flows","start":"2007-10-19","end":"2017-04-07","lags":1,"F":34.6018,"p_value":0.0,"n":494,"sum_x_coefs":-0.08},{"flow":"dii","sample":"second_half","direction":"flows_predict_returns","start":"2017-04-14","end":"2026-10-09","lags":1,"F":1.0888,"p_value":0.2973,"n":495,"sum_x_coefs":-0.0865},{"flow":"dii","sample":"second_half","direction":"returns_predict_flows","start":"2017-04-14","end":"2026-10-09","lags":2,"F":34.0249,"p_value":0.0,"n":494,"sum_x_coefs":-0.116},{"flow":"fpi_equity","sample":"full","direction":"flows_predict_returns","start":"2021-07-02","end":"2026-10-09","lags":1,"F":0.8891,"p_value":0.3466,"n":275,"sum_x_coefs":-0.0993},{"flow":"fpi_equity","sample":"full","direction":"returns_predict_flows","start":"2021-07-02","end":"2026-10-09","lags":1,"F":44.0549,"p_value":0.0,"n":275,"sum_x_coefs":0.2127},{"flow":"fpi_equity","sample":"first_half","direction":"flows_predict_returns","start":"2021-07-02","end":"2024-02-16","lags":1,"F":1.1687,"p_value":0.2816,"n":137,"sum_x_coefs":-0.1591},{"flow":"fpi_equity","sample":"first_half","direction":"returns_predict_flows","start":"2021-07-02","end":"2024-02-16","lags":1,"F":19.6614,"p_value":0.0,"n":137,"sum_x_coefs":0.2129},{"flow":"fpi_equity","sample":"second_half","direction":"flows_predict_returns","start":"2024-02-23","end":"2026-10-09","lags":1,"F":0.2814,"p_value":0.5967,"n":137,"sum_x_coefs":-0.0811},{"flow":"fpi_equity","sample":"second_half","direction":"returns_predict_flows","start":"2024-02-23","end":"2026-10-09","lags":1,"F":22.7709,"p_value":0.0,"n":137,"sum_x_coefs":0.2088}]}