Methodology. The light line is the ratio of the iShares Russell 1000 Growth ETF (IWF) to the iShares Russell 1000 Value ETF (IWD) — monthly adjusted closes from Yahoo Finance, indexed to 100 at the first observation (May 2000). IWF and IWD track the Russell 1000 Growth and Value indices and are available since May 2000. The blue line is the US 2-year minus 30-year Treasury constant-maturity yield spread (FRED DGS2 − DGS30, percentage points), plotted 2 years in advance of its observation date: the spread observed in month M is drawn at month M + 2y, aligned with the growth/value ratio it is thought to lead by roughly two years (the relationship presented by i3 Invest that this page replicates). Because the two series have different units, the spread is min–max rescaled onto the ratio's range so both lines overlay on the same vertical band; the y-axis therefore shows ratio units only, and hovering shows the actual spread in percentage points together with the month it was observed. The correlation row is the Pearson correlation between the ratio at month t and the spread at month t − 2y over the full window. The spread line extends two years past the ratio line — the rightmost blue point shows today's spread at its future alignment date. This page rebuilds daily via cron.