In this study we compared the temporal and periodic variations of the Maximum CME Speed Index (MCMESI) and the number of different class (C, M, and X) solar X-Ray flares for the last two solar cycles (Cycle 23 and 24). To obtain the correlation between the MCMESI and solar flare numbers the cross correlation analysis was applied to monthly data sets. Also to investigate the periodic behavior of all data sets the Multi Taper Method (MTM) and the Morlet wavelet analysis method were performed with daily data from 2009 to 2018. To evaluate our wavelet analysis Cross Wavelet Transform (XWT) and Wavelet Transform Coherence (WTC) methods were performed. Causal relationships between datasets were further examined by Convergence Cross Mapping (CCM) method. In results of our analysis we found followings; 1) The C class X-Ray flare numbers increased about 16 % during the solar cycle 24 compared to cycle 23, while all other data sets decreased; the MCMESI decreased about 16 % and the number of M and X class flares decreased about 32 %. 2) All the X-Ray solar flare classes show remarkable positive correlation with the MCMESI. While the correlation between the MCMESI and C class flares comes from the general solar cycle trend, it mainly results from the fluctuations in the data in case of the X class flares. 3) In general, all class flare numbers and the MCMESI show similar periodic behavior. 4) The 546 days periodicity detected in the MCMESI may not be of solar origin or at least the solar flares are not the source of this periodicity. 5) C and M Class solar flares have a stronger causative effect on the MCMESI compared to X class solar flares. However the only bidirectional causal relationship is obtained between the MCMESI and C class flare numbers.
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