Hydrogen peroxide: Correlation
Prices it moves with, and why
Hydrogen peroxide is made from hydrogen in an anthraquinone process. It is used to bleach paper pulp and textiles, to make propylene oxide, and in ultra-pure grades for chip making. The series is a broad US inorganic chemicals index proxy.
Proxy US PPI: inorganic chemicals other than alkalies and chlorine index (BLS base period) · monthly, Jan 2006 to Sep 2026There is no free public price for hydrogen peroxide itself, so this tab uses the closest public series as a stand-in. Read the numbers as an indication, not as the price of this exact item.
What its price moves with
Selected linkHydrogen peroxide and Hydrogen
Monthly changes -0.04 little or none correlation 12-month changes 0.03 little or none correlation Last 5 years 0.03 monthly changes Lead or lag +2 mo Hydrogen tends to lead by 2 months (r 0.10) Price function, Jun 2009 to Sep 2026 Hydrogen peroxide ≈ 435.7 × (Hydrogen)-0.09 R² 0.01 On this fit, a 10% higher hydrogen price goes with a −0.8% lower hydrogen peroxide price over the long run. Units: index (BLS base period) and index (BLS base period). The fit is loose, so treat the function as a rough guide.Chart: Hydrogen peroxide and Hydrogen prices rebased to 100 at Jun 2009, log scale
Both prices rebased to 100 at Jun 2009, on a log scale so equal percentage moves look the same size.Chart: Hydrogen peroxide price against Hydrogen price, monthly, log scales, with fitted line
Each dot is one month; paler dots are older (2009), darker dots recent (2026); the ringed dot is the latest month. The dashed line is the fitted price function. Both axes are logarithmic.Hydrogen is the main raw material. The hydrogen index covers merchant hydrogen and argon, and shows no link with the proxy: monthly moves correlate at minus 0.04 and yearly moves at 0.03.
little or none co-movement month to month · 208 months Show chartsMost hydrogen is made from natural gas, and the plants also need steam and power. European gas correlates with the proxy at 0.10 for monthly moves and 0.43 for yearly moves.
little or none co-movement month to month · 249 months Show chartsSome propylene oxide plants use hydrogen peroxide to oxidise propylene, a cleaner route. The proxy correlates with the organics index at 0.12 for monthly moves and 0.67 for yearly moves.
little or none co-movement month to month · 249 months Show chartsMaking hydrogen peroxide needs steam, power and hydrogen from energy-hungry plants. The proxy is the US industrial power price, which correlates at 0.13 for monthly moves and 0.38 for yearly moves, as contracts adjust slowly.
little or none co-movement month to month · 249 months Show chartsUltra-pure hydrogen peroxide is used to clean silicon wafers in chip factories, a growing high-value use tied to the semiconductor cycle. Wet chemicals have no public price series here, so the link is shown as text only.
Not enough overlapping price history to measure.Pulp mills bleach with hydrogen peroxide in alkaline conditions set by caustic soda, so the two are bought together. The two US indices correlate at 0.30 for monthly moves and 0.70 for yearly moves, a shared inorganic chemicals cycle.
weak co-movement month to month · 249 months Show chartsHow to read these numbers
Correlation of monthly changes (the number in the coloured pill) compares how much each price moved, month by month, since 2006 or the first month both series exist. It runs from −1 to +1: near +1 the two usually rise and fall in the same months, near 0 there is no link, and a negative number means they tend to move in opposite directions. Above 0.7 is strong, 0.4 to 0.7 moderate, 0.2 to 0.4 weak.
12-month changes compare year-on-year moves, which shows whether two prices share the same cycles even when the month-to-month noise differs.
Price function is a straight-line fit of the two prices on logarithmic scales: price ≈ k × (partner price)β. β is how much this price moves, in per cent, for a 1% move in the partner over the whole period, and R² is the share of the variation the fit explains. Two prices that both drift up with inflation can fit well without any real link, so read it together with the monthly correlation.
Lead or lag checks whether the monthly correlation is clearly higher when one price is shifted by 1 to 6 months.
Correlation is not cause. The reasons on each card explain the economic link; the numbers show how strongly it has shown up in prices. Proxy series are US producer price indexes or related prices and can blur the real link.
Data: World Bank Commodity Price Data (Pink Sheet), October 2026; US Bureau of Labor Statistics producer price indexes, IMF primary commodity prices and US EIA prices via FRED, Federal Reserve Bank of St. Louis, retrieved November 2026. Calculations by this site.