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Correlation Analysis

Apple Inc. vs Arthur J. Gallagher & Co.

AAPL vs AJG

+0.741

Strong positive

When one moves up, the other tends to follow.

AAPL logo

Apple Inc.

AAPL

Apple is among the largest companies in the world, with a broad portfolio of hardware and software products targeted at consumers and businesses. Apple's iPhone makes up a majority of the firm sales, and Apple's other products like Mac, iPad, and Watch are designed around the iPhone as the focal point of an expansive software ecosystem. Apple has progressively worked to add new applications, like streaming video, subscription bundles, and augmented reality. The firm designs its own software and semiconductors while working with subcontractors like Foxconn and TSMC to build its products and chips. Slightly less than half of Apple's sales come directly through its flagship stores, with a majority of sales coming indirectly through partnerships and distribution.

Market cap 3.8T

AJG logo

Arthur J. Gallagher & Co.

AJG

Founded in 1927 as a one-person agency, Gallagher's primary business is insurance brokerage, with a focus on serving middle-market companies. The company's risk management segment provides third-party claims adjustment to companies that choose to self-insure. Gallagher has about 72,000 employees and generates about a third of its revenue internationally, primarily in Australia, Canada, New Zealand, and the UK.

Market cap 56.3B · 72,000 employees

Apr 9, 2021 — Apr 7, 2026Daily1,254 data pointsStockStockTechnology

Time Series

Relative Performance

Green: AAPLGray: AJG36 of 1,254 points (sampled)

Who Moves First

AJG leads AAPL by 6 days

AJG tends to move before AAPL.

After testing 13 timing shifts, the strongest relationship was +0.745 (they moved in the same direction).

Do They Crash Together?

Correlation by Market Regime

How these series behave when markets are rising, falling, or diverging. A correlation that holds in drawdowns is very different from one that only works in rallies.

Both Rising

-0.035

12 periods · Return correlation when both series rose

Both Falling

-0.126

5 periods · Return correlation when both series fell

Diverging

-0.697

18 periods · Return correlation when series moved apart

R-Squared

54.9%

Share of variance in one series explained by the other.

Trend Agreement

59.2%

How often both series moved in the same direction period-to-period.

Overlap Quality

1,254

Deep shared window — 1,254 usable pairs.

Significance

p < 0.001

95% CI: [0.715, 0.765]

Scatter

XY Regression

112.3120140160180200220240260280285.6116150200250300350356.4Apple Inc.Arthur J. Gallagher & Co.Data pointsFit (r = 0.741)

Pipeline

Data quality details

Pipeline Summary

1,254 paired data points survived the daily window.

Raw input

1,254

1,254

Normalized

1,254

1,254

Prepared

1,254

1,254

Aligned

1,254

1,254

Invalid removed

0

A: 0 / B: 0

Duplicates removed

0

A: 0 / B: 0

Alignment drops

0

A: 0 / B: 0

Series A

AAPL logo

Apple Inc.

AAPL

Market cap 3.8T

Stock · 1,254 raw → 1,254 prepared

Series B

AJG logo

Arthur J. Gallagher & Co.

AJG

Market cap 56.3B · 72,000 employees

Stock · 1,254 raw → 1,254 prepared

Sign agreement

100.0%

How often both values share the same sign.

Zero crossings

30

Estimated crossover points between normalized spreads.

Slope

1.0540

Linear regression slope.

Intercept

26.6641

Linear regression intercept.

Related Extremes

Highest and Lowest Correlated

Saved 5 hours ago · ID: stock-aapl-vs-stock-ajg-daily-20260408-48jmbq