Build visualization(s) that show which, if any, pairs of the following six data series have had a high degree of correlation in the last 10 years (month to month, going back from December 2021). Correlation can be positive or negative (or uncorrelated), and while there are statistical measures to test for those, your answer should be visual and allow a user to see the interactions between pairs of indicators.
The data needs to be gathered from FRED https://fred.stlouisfed.org/ The six indicators are: CPILFESL, CPIAUCSL, CUSR0000SETA02, EMVOVERALLEMV, BOPTIMP, and INDPRO.
Use any tool of your choosing and build snapshots of the final visualization(s). The data can be downloaded and placed in the same file if required by your tool. One possible way is to have 7 columns (date + 6 indicators) and a row for each month.
In addition to creating the visualizations, you will be required to grade and comment on 7 homework assignments from other classmates on how clearly they present all possible correlations or lack thereof. Please make note of the reasons why you chose a particular ranking. No need to submit those reasons on Blackboard, but, at a later time, I may ask students at random to provide me the justification.
Steps:
- Create the snapshots and add any explanation as needed to allow someone to use the snapshots.