Picking the time lag to maximise the best fit between the two data sets is the kind of thing that they teach you not to do in machine learning classes; it leads to overfitting.
The theory makes a prediction about the time lag at which autocorrelation will be maximized: it's the time interval needed for a generation to mature.
A friend has been asking my views on the likelihood that there's anything to a correlation between changing levels of lead in paint (and automotive exhaust) and the levels of crime. He quoted from a Reason Blog:
I responded with the following:
He's apparently continued to pursue the question, and just forwarded these remarks from Steven Pinker that I thought were very illuminating, and probably deserve a place in this community's toolkit for skeptics. Pinker's main point is that the association between Lead and crime is a long tenuous chain of suppositions, and several of the intermediate points should be far easier to measure. Finding correlations at this distance is not very informative.
http://stevenpinker.com/files/pinker/files/pinker_comments_on_lead_removal_and_declining_crime.pdf
Does the phrase "long-chain correlation" stick in your head and make it easier to dismiss this kind of argument?