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We propose an adaptive distributed compression solution using particle filtering that tracks correlation, as well as performing disparity estimation, at the decoder side. The proposed algorithm is tested on the stereo solar images captured by the twin satellites system of NASA's Solar TErrestrial RElations Observatory (STEREO) project. Our experimental results show improved compression performance w.r.t. to a benchmark compression scheme, accurate correlation estimation by our proposed particle-based belief propagation algorithm, and significant peak signal-to-noise ratio improvement over traditional separate bit-plane decoding without dynamic correlation and disparity estimation.