Correlation Analysis
Apple Inc. vs Expand Energy Corporation Common Stock
AAPL vs EXE
+0.093
Weak positive
When one moves up, the other tends to follow.
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
Expand Energy Corporation Common Stock
↗EXE
Expand Energy is a North American natural gas producer in the Haynesville and Appalachian basins, formed by the combination of Chesapeake and Southwestern. Its largest operation by volume is the Haynesville basin in Louisiana, which is heavily exposed to nearby LNG production. Appalachia benefits from its proximity to population centers in the Northeast and mid-Atlantic regions.
Market cap 24.9B · 1,600 employees
Time Series
Rebased to 100
Who Moves First
in sync
AAPL and EXE tend to move at the same time.
Best correlation after shifting: +0.093 (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
-0.365
12 periods · Return correlation when both series rose
Both Falling
+0.143
9 periods · Return correlation when both series fell
Diverging
-0.724
14 periods · Return correlation when series moved apart
R-Squared
0.9%
Share of variance in one series explained by the other.
Trend Agreement
49.6%
How often both series moved in the same direction period-to-period.
Overlap Quality
378
Robust shared window — 378 usable pairs.
Significance
n.s.
95% CI: [-0.008, 0.192]
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
378 paired observations survived the daily window.
Raw input
1,254
378
Normalized
1,254
378
Prepared
1,254
378
Aligned
378
378
Invalid removed
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
876
A: 876 / B: 0
Series A
Apple Inc.
AAPL
Market cap 3.8T
Stock · 1,254 raw → 1,254 prepared
Series B
Expand Energy Corporation Common Stock
EXE
Market cap 24.9B · 1,600 employees
Stock · 378 raw → 378 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
16
Estimated crossover points between normalized spreads.
Slope
0.0318
Linear regression slope.
Intercept
96.7568
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
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