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Monitoring systems have hundreds or thousands of distributed sensors gathering and transmitting real-time streaming data. The early detection of events in these systems, such as an earthquake in a seismic monitoring system, is the base for essential tasks as warning generations. To detect such events is usual to compute pairwise correlation across the disparate signals generated by the sensors. Since the data sources (e.g., sensors) are spatially separated, it is essential to consider the lagged correlation between the signals. Besides, many applications require to process a specific band of frequencies depending on the event’s type, demanding a pre-processing step of filtering before computing correlations. Due to the high speed of data generation and a large number of sensors in these systems, the operations of filtering and lagged cross-correlation need to be efficient to provide real-time responses without data losses. This article proposes a technique named FilCorr that efficiently computes both operations in one single step. We achieve an order of magnitude speedup by maintaining frequency transforms over sliding windows. Our method is exact, devoid of sensitive parameters, and easily parallelizable. Besides our algorithm, we also provide a publicly available real-time system named Seisviz that employs FilCorr in its core mechanism for monitoring a seismometer network. We demonstrate that our technique is suitable for several monitoring applications as seismic signal monitoring, motion monitoring, and neural activity monitoring.