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Does ADX Agree on CL (Crude Oil Futures) and ES (S&P 500 E-mini Futures)? (30 minute Charts)
Educational reference. Measured from recorded market data through October 14, 2026. Not a prediction.
ADX measures how strongly a market is trending, regardless of direction. This page asks a narrower question than the price comparison: when ADX moves on Crude Oil, does it move the same way on E-mini S&P 500?
| Bars where ADX moved on both | 1,508 |
|---|---|
| … and moved the same direction | 867 (57.5%) |
| Price correlation, same period | -0.403 |
ADX agrees more than price does. Prices correlate at -0.403, yet this reading matches 57.5% of the time. It is tracking something the two markets share beyond direction.
Why this is not the same as the price question
Two markets can move together while their momentum, trend strength or volatility do not. A reading that agrees far less than price suggests is exactly where one market is losing steam while the other keeps going — and a reading that agrees more is tracking something shared that direction alone does not capture.
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