Correlation Analysis
Apple Inc. vs Ball Corporation
AAPL vs BALL
-0.117
Weak inverse
When one moves up, the other tends to move down.
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
Ball Corporation
↗BALL
Ball is the world's largest metal can manufacturer with market share over 30% in its three main regions (North America, Europe, and South America). The company is focused on increasing capacity amid a wave of new developed-market demand, while also investing in faster-growing emerging-market economies. Ball spun-off its glass jar business in 1993 and is now owned by Newell. The company reports three segments-beverage packaging, North and Central America (48% of 2025 revenue), beverage packaging, EMEA (30%), beverage packaging, South America (16%)-and it generated $13 billion in revenue in 2025.
Market cap 15.9B · 16,000 employees
Time Series
Rebased to 100
Who Moves First
AAPL leads BALL by 5 days
AAPL tends to move before BALL.
Best correlation after shifting: -0.123 (13 shifts scanned)
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
+0.570
11 periods · Return correlation when both series rose
Both Falling
-0.812
8 periods · Return correlation when both series fell
Diverging
-0.763
16 periods · Return correlation when series moved apart
R-Squared
1.4%
Share of variance in one series explained by the other.
Trend Agreement
57.0%
How often both series moved in the same direction period-to-period.
Overlap Quality
980
Deep shared window — 980 usable pairs.
Significance
p < 0.001
95% CI: [-0.178, -0.055]
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
980 paired observations survived the daily window.
Raw input
1,254
980
Normalized
1,254
980
Prepared
1,254
980
Aligned
980
980
Invalid removed
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
274
A: 274 / B: 0
Series A
Apple Inc.
AAPL
Market cap 3.8T
Stock · 1,254 raw → 1,254 prepared
Series B
Ball Corporation
BALL
Market cap 15.9B · 16,000 employees
Stock · 980 raw → 980 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
5
Estimated crossover points between normalized spreads.
Slope
-0.0195
Linear regression slope.
Intercept
61.0737
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
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