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Does Commodity Channel Index Agree on CL and MCL? (5-minute Charts)
Educational reference. Measured from recorded market data through September 4, 2026. Not a forecast.
Commodity Channel Index measures how far price has moved from its own recent average. This page asks a narrower question than the price comparison: when Commodity Channel Index moves on Crude Oil, does it move the same way on Micro Crude Oil?
| Bars where Commodity Channel Index moved on both | 8,965 |
|---|---|
| … and moved the same direction | 8,542 (95.3%) |
| Price correlation, same period | +0.840 |
Commodity Channel Index agrees more than price does. Prices correlate at +0.840, yet this reading matches 95.3% 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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