Figure 3 compares how the individual member countries perform in response to shocks. The various demand and supply shocks for the other 10 countries are correlated with those in Germany, chosen as the ‘benchmark economy’. The analysis is confined to the last 15 years, to provide a measure of the impact of being within the euro. A correlation score of 1.0 would indicate that the country in question had an economy whose movements were perfectly synchronised with those of Germany, whereas a score of 0.0 would indicate that the movements of the two economies were completely random in respect of each other. A score of -1.0 indicates perfect ‘negative correlation’, i.e. that the other economy reacts in an exactly opposite way to Germany.