What moves together — with the numbers printed
teal + · amber − · opacity = |r| · illustrative
Sess
Orders
AOV
Ret
Ads
Sessions
Orders
AOV
Returns
Ad spend
1.0
.82
−.10
.05
.74
.82
1.0
−.31
.18
.61
−.10
−.31
1.0
.42
−.22
.05
.18
.42
1.0
.12
.74
.61
−.22
.12
1.0
AOV ↔ Returns: .42
big baskets return more —
price the returns risk into the
free-shipping threshold.
Correlation, not causation — this matrix nominates hypotheses; the diff-in-diff (06) and event-study (73) get to promote them.